"QQE with Yield Curve Control" has worked well for four years since its introduction to date, including the past 10 months during the COVID-19 pandemic. Thus, the Bank judges that there is no need to change its framework. Under this framework, it will assess whether the manner of operation and the various policy tools, including asset purchases, have had their intended effects.
In pursuit of further effective and sustainable monetary easing toward achieving the price stability target of 2 percent, if there is anything more that can be done, the Bank will do so. The key is "effective" and "sustainable" monetary easing.