“Quantitative easing” is often used in a rather vague manner, but the policy action we adopted can be regarded as a pure form of “quantitative easing.” Third, the Bank adopted “credit easing” in the current terminology. The assets purchased included asset-backed securities (ABSs) and asset-backed commercial papers (ABCPs).
Fourth, the Bank made a commitment to continuing with the zero interest rate policy and the quantitative easing policy. The conditions for commitment were expressed as “until deflationary concerns are dispelled” at the time of the zero interest rate policy and “until core CPI inflation becomes stably zero or above” at the time of the quantitative easing policy.