1. Pursuing powerful monetary easing  First, the Bank aims to pursue powerful monetary easing through the implementation of the comprehensive monetary easing policy decided in October 2010. As the first measure for this policy, the Bank set the uncollateralized overnight call rate target at “around 0 to 0.1 percent.” It clarified that the policy interest rate is virtually zero.
As for the second measure, the Bank clarified the policy time horizon of the virtually zero interest rate policy – specifically, it will maintain the virtually zero interest rate policy until it judges that price stability is in sight, on condition that an examination of risk factors, including the accumulation of financial imbalances, reveals no problems – and it has been working to help stabilize longer-term interest rates.