Having long been mired in deflation, the Bank adopted the 2 percent price stability target in January 2013 and changed policy with the introduction of quantitative and qualitative monetary easing (QQE) in April 2013, which has produced positive effects.
Even  19  Due to data limitations, global real interest rates in this study were calculated from GDP-weighted nominal interest rates and inflation rates using available data for eight countries: Italy, the Netherlands, France, Spain, the United Kingdom, Germany, the United States, and Japan.