I have been voting against setting interest rate target levels because such a situation is unlikely to contribute to maintaining financial system stability, which is one of the Bank's two mandates.
However, unlike the pegging of long-term interest rates that was adopted in the United States until the 1950s, the framework of QQE with Yield Curve Control is a flexible one under which, at each Monetary Policy Meeting (MPM), the target level for the intermeeting period is determined.