There is no question about that, and financial markets understand the government’s intention on that. B.  QQE based on fiscal consolidation  Recent long-term rates have been stable in light of signs of overcoming deflation. That is not just due to the effects of the Bank’s JGB purchases.
It also hinges on the fact that market participants and businesspeople have full confidence in the government’s strong commitment to fiscal consolidation. That enables the Bank to conduct massive JGB purchases without being trapped in fiscal dominance. The Bank offers full support to the government’s commitment.