In the wake of COVID-19, another potential factor constraining consumption has arisen -- that is, the risk that future income will decline unexpectedly due to such incidents as the spread of the pandemic. There is concern that this might further raise households' propensity to save and that downward pressure on consumption might be exerted accordingly.
B. Sustainability and Flexibility of Monetary Easing Given that it is expected to take more time to achieve the price stability target, due in part to the impact of COVID-19, I think it will become even more important for monetary easing measures to be sustainable and flexible. Let me now share my thoughts on this.