Second, QQE puts strong downward pressure on nominal interest rates across the entire yield curve through massive purchases of JGBs. These two channels result in a decline in real interest rates. The decline in real interest rates boosts business fixed investment and housing investment through a decline in interest rates on business and housing loans.
It is a well recognized fact that the standardization will help in ensuring consistency in the messages reaching the target audience from various sources and making them more focused and powerful. We have already done some work in this direction.