As for the outlook, the recovery trend in the U.S. economy is likely to gradually strengthen in the latter half of 2013, as the effects of expiration of tax cuts wane and uncertainties diminish in regard to fiscal spending cuts and the debt ceiling problem. Economic activity in the euro area remains weak.
These tools include further liquidity provision, asset purchases and transactions in the foreign exchange market. So it would be incorrect to conclude that we are out of firepower. That brings me to the end of the four questions I posed. I am now happy to answer any other questions that you might have. Thank you. 5/5  BIS central bankers' speeches