Source: Ministry of Internal Affairs and Communications. 8  Chart 9  Super-long-term JGB Yields 2.5  % Introduction of QQE  10-year  Introduction of QQE with a Negative Interest Rate  20-year 30-year  2.0  40-year Introduction of QQE with Yield Curve Control  1.5  1.0  0.5  0.0  -0.5 CY 13  Source: Bloomberg.
*  *  Introduction  Ladies and gentlemen, It is my pleasure to be with you today a few days after the celebration of the Chinese New Year. Let me take this occasion to wish you and all our Chinese friends a happy and prosperous year of the rat!