As I mentioned at the outset, the Bank recognizes that the inflation rate consistent with price stability on a sustainable basis will rise as efforts by a wide range of entities toward strengthening competitiveness and growth potential of Japan’s economy make progress.
Almost surely, there will be a lot of fuzziness about which color to attribute to a wide range of recent policies. But discussion can help participants understand both how the policies could be classified if we had better models and data, as well as how the models and data gathering can be improved.