Expansion of QQE  At the Monetary Policy Meeting held on October 31, 2014, the Bank decided to expand QQE, in order to ensure that the price stability target of 2 percent would be achieved at the earliest possible time (Chart 17). Specific measures of the expansion are as follows.
First, the Bank will accelerate the annual pace of increase in the monetary base from about 60–70 trillion yen to about 80 trillion yen. Second, it will increase purchases of Japanese government bonds (JGBs) so that the amount outstanding of its holdings will be increased by about 30 trillion yen from an annual pace of about 50 trillion yen to about 80 trillion yen.