BIS central bankers’ speeches  3  monetary policy is how to raise inflation expectations given the limited room for lowering shortterm interest rates. For this reason, QQE consists of two elements. The first is the Bank’s strong and clear commitment to the target.
Specifically, the Bank has made clear its stance that it seeks to achieve the price stability target at the earliest possible time, with a time horizon of about two years, and has committed itself to pursuing QQE as long as it is necessary for achieving the price stability target in a sustainable manner.