I believe that this will enhance the credibility of the Bank’s policy, and thereby boost the policy effects. D.  Examination and comparison of positive effects and side effects of QQE  So far, I have described in detail the positive effects and side effects of QQE.
Japan’s economy has also basked in this movement toward recovery in overseas economies, as evidenced by increased exports to East Asian countries and the US. Inventory adjustments have further progressed in many industries, leading to a gradual recovery in production. But we have yet to see unequivocal movement toward the recovery of domestic demand, which will play a key role for a sustainable recovery.