QE is intended and expected, in particular to strengthen one transmission channel through which non-standard monetary policy measures work, the so-called portfolio rebalancing channel. This channel depends on the amount of liquidity that is created by the central bank. QE will reinforce this channel, which was judged to be too weak otherwise. Do you have an estimate of the possible impact on inflation?
In the short run, supply shocks - including both relative price shocks and changes in trend productivity - can also affect inflation dynamics. But these effects are temporary. Ultimately, inflation dynamics will be driven by the output gap. At some point in any expansion, therefore, a soft landing is the preferred path to preserve a healthy expansion.