First of all, although it may sound like something which goes without saying, the current monetary easing policy should be tenaciously continued. The effects of the current strong monetary easy measures have not fully permeated to the real economy.
As we know, inflation has been very low for the past two years – far below the inflation target – and is expected to remain low during the coming year as well. Despite that, it is important to note that the inflation target regime continues to enjoy trust, as shown in the medium and longer-term inflation expectations.