My proposal aims at securing an opportunity for the Bank to thoroughly examine, after a certain period of time, whether the side effects of QQE are not outweighing the positive effects and review the easing measures in a flexible manner depending on economic and financial conditions at the time.
You will be familiar with my concern that the central bank’s mandate could be overstretched and our independence ultimately called into question. We need this independence in order to ensure a stable [11] currency over the long haul. It is not the task of independent central banks to intervene in the absence of ambitious and credible climate policy.