If fiscal discipline weakens as a result of the Bank guiding the long-term interest rate to around 0 percent, it is possible that the credibility of fiscal management will be undermined and that the Bank will inevitably increase JGB purchases further in order to control the long-term interest rate.
In addition, if the long-term interest rate rises due to a decline in the credibility of fiscal management, it is uncertain whether an increase in risk premiums can be contained through the Bank's JGB  10  purchases.