While there are also upside and downside risks to prices, I am paying greater attention to downside risks, given that concern over the economic outlook has been increasing and a decline in commodity prices during the first half of fiscal 2012 will put downward pressure on prices for the time being.
Attention should also be paid to the effects of the continued low short-term inflation expectations on future price developments. II. Monetary policy  A. Conduct of monetary policy  Let me now discuss the Bank’s efforts to enhance monetary easing. The Bank introduced comprehensive monetary easing in October 2010, and has subsequently been enhancing monetary easing.