Financial institutions' lending attitudes have remained accommodative. The year-on-year rate of change in the amount outstanding of bank lending and that in the aggregate amount outstanding of CP and corporate bonds have continued to register high growth. However, with the economy improving at only a moderate pace, corporate financing is likely to remain under stress.
Under these circumstances, the Bank decided at the December MPM last year to extend the duration of the Special Program by six months until the end of this September, thereby continuing to provide support for corporate financing. It will continue to firmly conduct the current monetary easing, including this program.