Japan’s price developments and monetary policy: comparison with the United States  As you may know, the BOJ adopted a 2 percent price stability target in January 2013, followed by the implementation of quantitative and qualitative monetary easing (QQE) the following April.
Still, there is one thing we should be clear about: monetary policy cannot solve the underlying causes of the crisis. It can only buy time. And it is up to national governments to use that time to dig out the root causes of the crisis. Failing to do so will push us back into dangerous territory. We must not let that happen. 4.