The Bank's Conduct of Monetary Policy Next, I would like to explain the Bank's conduct of monetary policy including the measures decided at the MPM held two days ago. The Bank has been pursuing powerful monetary easing under the policy framework of "QQE with Yield Curve Control," aiming to achieve the price stability target of 2 percent (Chart 10).
In order to achieve the price stability target at the earliest possible time, the Bank set the target level of 10-year Japanese government bond (JGB) yields at around zero percent, and has purchased large amount of JGBs so that the yield curve would be formed in line with the target.