Monetary policy going forward  The Bank has been pursuing QQE, aiming to achieve a state in which the 2 percent inflation rate is maintained in a stable manner. The observed inflation rate could move, reflecting various temporary factors; thus, in order to achieve 2 percent in a stable manner, the underlying trend in inflation is important.
Is unconventional monetary policy becoming conventional? Unconventional measures play an important role. They have been effective, but in a specific circumstance of a very prolonged recessionary and deflationary environment. I do not consider that this is the new normal. If you ask me about secular stagnation, it’s a theory that we obviously take very seriously.