First and foremost, we shall actively support those vulnerable sectors suffering from the pandemic so that they can overcome such hardship as quickly as possible, in a way that future side effects arising from the support are minimized. Weak links in our economy, such as excessive debt, pose greater risks when the external environment worsens.
If we were to conclude that our medium-term price stability objective is at risk, we would act by using all the instruments available within our mandate to ensure that an appropriate degree of monetary accommodation is maintained. Consistent with our forward guidance, the asset purchase programme is considered to be a particularly powerful and flexible instrument.