I will return to the structural changes in Japan and changes in the inflation mechanism later. III. Monetary Policy A. Current Monetary Easing Policy and Its Basic Framework Next, I will touch upon the Bank's conduct of monetary policy.
The Bank has enhanced a wide range of its monetary easing measures since March and implemented the following three measures in response to the instability in financial markets accompanying the spread of COVID-19 as well as concern over financial strains faced by firms stemming from the decrease in sales due to restrictions on economic activity (Chart 9).