This current framework consists of three measures: yield curve control, the purchase of risk assets, and the Bank’s public commitment regarding the future conduct of monetary policy.
In addition to these measures, the Bank has taken the following three actions since March 2020 to address the economic impact of the pandemic, as shown in Chart 12: (1) the Special Program to Support Financing in Response to the Novel Coronavirus (COVID-19); (2) an ample and flexible provision of yen and foreign currency funds; and (3) purchases of exchange-traded funds (ETFs) and Japan real estate investment trusts (J-REITs).