However, it also is true that downside risks to the economy are increasing. The impact of the consumption tax hike scheduled for October this year also is a concern. If the economy deteriorates to the extent that achieving the 2 percent price stability target in the long term becomes difficult, I view it as necessary to strengthen monetary easing without delay.
Thank you for your attention. See, Bank of Japan, "Statement on Monetary Policy" and its Attachment, April 2019. For my opinion regarding data-dependent forward guidance, see Yutaka Harada, "Economic Activity, Prices, and Monetary Policy in Japan: Speech at a Meeting with Business Leaders in Yamanashi," Bank of Japan, March 2019. 21 22  19