Based on this, it has been steadily increasing the monetary base, mainly through the purchase of long-term Japanese government securities. Looking at recent economic and financial developments, Japan’s economy has steadily been pursuing its course toward overcoming deflation.
In my view, however, the impact of monetary easing will be full scale from now on, and it is particularly important for the Bank to facilitate a deeper understanding of monetary policy within the public by explaining our aim and commitment under the QQE in order to ensure that its expected effects will be realized.