It is my great pleasure to have the opportunity today to speak at the Kisaragi-kai meeting. At the Monetary Policy Meeting held on October 31, the Bank of Japan decided to expand the quantitative and qualitative monetary easing (QQE). Concurrently, in its Outlook Report for Economic Activity and Prices (Outlook Report), the Bank published its projections for Japan's economic activity and prices through fiscal 2016. Today, I will explain the background to and the thrust of the decision this time, as well as the Bank's recognition of and prospects for economic activity and prices. I. Quantitative and Qualitative ... (full story)