To do so, it is necessary for people to have sufficient confidence in the central bank's price target and monetary policy. 5  II.
Future Conduct of Monetary Policy A. QQE with Yield Curve Control I have been arguing that it is necessary to make patient efforts in the medium to long term in order to raise people's dampened medium- to long-term inflation expectations and overcome deflation, and that to this end, it was essential to transform the framework of the previous QQE, which was a shock therapy solution aiming for quick results, into a more flexible and sustainable one.