While the Bank’s main engine of its monetary policy is the QQE, these facilities are designed to reinforce a transmission mechanism of the policy. We have been taking a stance of doing whatever we can to achieve the 2 percent price stability target.
Partly due to the effects of the QQE, Japan’s economy has been growing above its potential growth rate led by domestic demand, with real GDP growth increasing year-on-year by 1.5 percent on average in 2013, and by 2.5 percent measured from fourth quarter to fourth quarter.