The Bank's Conduct of Monetary Policy Next, I would like to explain the Bank's conduct of monetary policy. The Bank has been conducting "QQE with Yield Curve Control," aiming to achieve the price stability target of 2 percent (Chart 12).
It has pursued powerful monetary easing; specifically, the Bank sets the short-term policy interest rate at minus 0.1 percent and the target level of 10-year Japanese government bond (JGB) yields at around zero percent, and has conducted large-scale JGB purchases in the market.