Introduction It is my pleasure to have the opportunity today to exchange views with administrative, financial, and business leaders in Kumamoto Prefecture. I would like to take this opportunity to express my sincerest gratitude for your cooperation with the activities of the Bank of Japan’s Kumamoto Branch.
The Bank introduced quantitative and qualitative monetary easing (QQE) in April 2013 with the aim of overcoming deflation that has lasted for about 15 years. Thereafter, QQE has been exerting its intended effects, and Japan’s economic activity and prices have improved markedly.