Aspect 4: Effective communication strategies The fourth characteristic of QQE is that the Bank uses the number “two” a great deal: 2 percent price stability target; a time horizon of about two years; doubling the monetary base and the amounts outstanding of JGBs and ETFs; and doubling the average remaining maturity of JGB purchases.
Whether a central bank should be more proactive in introducing measures to support sustainable finance deserves further discussion in the context of the central bank's mandate and the market neutrality of monetary policy measures. These issues relating to monetary policy will not be discussed in detail at this workshop. Nevertheless, they are important topics, and the Bank of Japan will continue to explore them.