We need to take the first step in March to get off the effective lower bound. Then we should continue with hikes as well as begin to reduce our balance sheet. I will continue to monitor the geopolitical situation to assess the appropriate timing of this near-term monetary policy tightening.
In our capacity as the G20 Presidency, we worked hard to ensure that a first, important agreement was reached. We also ensured that there was a commitment to reconsider the matter over time, on the basis of the results achieved. Looking ahead, work on NBFI will continue in a number of directions.