Expansion of QQE  When the Bank introduced QQE in April 2013, I supported the concrete measures of QQE, judging that the scale was one in which the associated positive effects would just about outweigh the side effects when confined to a certain time period.
Since the time of introduction, however, I have considered that, if such large-scale monetary easing policy were to be protracted or such policy strengthened, the associated side effects would instead outweigh the positive effects, and this would heighten the risk of undermining economic and price stability in the long run.