It is imperative, however, that the macro-prudential toolbox be further enhanced with innovative tools beyond those outlined above.
In terms of yield curve control, with a view to facilitating the formation of the yield curve that is considered most appropriate for achieving the price stability target of 2 percent, the Bank has conducted purchases of Japanese government bonds (JGBs) under the guideline for market 1/2  BIS central bankers' speeches  operations, in which it sets the short-term policy interest rate at minus 0.1 percent and the target level of 10-year JGB yields at around zero percent.