Aim of the QQE and the current situation of Japan’s economy  So far, I have explained the price stability target of 2 percent in terms of the year-on-year rate of change in the CPI; namely, the so-called inflation targeting policy and the thinking behind that.
Given the high uncertainties over the pace of deceleration in inflation, we plan to respond in a more well-tuned manner by examining the effects of our previous policy measures on the pace of the economic slowdown through the use of incoming data, and also by considering changes in policy rates in major economies, including the U.S.  2/3  BIS - Central bankers' speeches  We also plan to closely follow the effects of rising interest rates on property price corrections and the potential financial instability to which this may lead, as well as any other unexpected side-effects that may spread to the far corners of the Korean economy.