I will continue to carefully examine efforts made by each economic entity as well as future developments in the Phillips curve to see if there is any progress in terms of a change in the slope or an upward shift. 2.
Communication regarding the conduct of monetary policy  Central banks in advanced economies are making efforts to increase transparency, aiming at appropriate communication to the public regarding their policy conduct. Specifically, such efforts include the following. First, clarifying the policy target by, for example, using numerical expressions. Second, explaining the outlook for economic activity and associated risks, which form the basis for policy decisions.