Specifically, the Bank should purchase JGBs so that yields on JGBs with maturities of 10 years and longer will broadly be lowered further.
With a view to reinforcing the inflation-overshooting commitment, the Bank should also add the commitment that, in terms of the medians of the Policy Board members' 3  These facts also can be confirmed from an estimate of the Phillips curve with time-varying parameters (Chart 7, the right-hand panel).