The main transmission mechanism that QQE envisages is twofold. The first is to convert people’s deflationary mindset and raise their inflation expectations though a strong BIS central bankers’ speeches  5  commitment toward achieving the price stability target of 2 percent.
Central bankers have been working closely together throughout this period of financial turmoil. Personally, I have found the opportunity to share views regularly with President Trichet and other leading central bankers at various international meetings extremely valuable. We are all in frequent contact by phone as well.