This expectation is based on the overall subdued outlook for inflation extending into the medium term, given the broad-based weakness in the real economy and subdued monetary dynamics.”  •  The BOJ used two descriptions regarding the time span of monetary accommodation when quantitative and qualitative monetary easing (QQE) was introduced in April 2013.
The economic policy response involved the public sector using its balance sheet to support the economy and keep people in jobs. Fiscal and monetary policy worked together well and the response of Australia’s financial institutions also helped. Households and businesses also showed remarkable resilience and an ability to change how they do things. So, it is a positive story here.