The Bank aims to contribute to strengthening the growth potential of Japan’s economy through its continued efforts through QQE and by achieving the price stability target of 2 percent at the earliest possible time. Concluding remarks Today, I have talked about the challenges facing Japan’s economy and the characteristics of QQE as a remedy for those challenges.
The greatest lesson from Japan’s experience is that the best is not to fall into deflation in the first place, since there is the danger that, once the economy has fallen into it, deflation becomes protracted. If there is a risk of deflation, policy authorities should make every effort to prevent the economy from falling into it.