Widespread expectations that the international organisations will intervene can accentuate behaviour on the part of intermediaries that is not consistent with the riskiness of investments.
At the same time, the Bank tries to lower real interest rates by exerting downward pressure across the entire  2  BIS central bankers’ speeches  yield curve through massive purchases of Japanese government bonds (JGBs), thereby stimulating private demand such as business fixed investment, private consumption, and housing investment.