In doing so, it would purchase massive amounts of Japanese government bonds (JGBs),  1  For historical developments in Japan’s inflation rate and a comparison with other major economies, see “Recent Developments in Economic Activity and Prices, and Future Monetary Policy”, a speech by Takahide Kiuchi at a meeting with business leaders in Kanagawa on February 28, 2013, available on the Bank’s web site (http://www.boj.or.jp/en/announcements/press/koen_2013/ko130319a.htm/).
For off balance sheet items, there could be several options based on conversion factors, notional principal values etc. Currently all options are being examined.