The last figure would account for nearly 60 percent of nominal GDP – far above the levels of other advanced economies.
Aspect 4: Effective communication strategies The fourth characteristic of QQE is that the Bank uses the number “two” a great deal: 2 percent price stability target; a time horizon of about two years; doubling the monetary base and the amounts outstanding of JGBs and ETFs; and doubling the average remaining maturity of JGB purchases.