Following the introduction of QQE in April 2013, the Bank has been pursuing QQE with Yield Curve Control since September 2016 toward achieving the price stability target of 2 percent.
We will continue to review the banks’ operations and strategies and where there are deficiencies or we think things should be done better we will let them know. Addressing mortgage arrears was never going to be a short-term issue. We have always believed it was going to take time to tackle the issues and take a number of years to work out.