Haruhiko Kuroda: Quantitative and qualitative monetary easing and economic theory

Speech by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at the University of Zurich, Zurich, 13 November 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

I am very honored to have the opportunity to give a speech at the University of Zurich today. I also would like to express my sincerest gratitude to the Swiss National Bank for arranging this valuable occasion.

At present, the Bank of Japan is pursuing powerful monetary easing under the framework of quantitative and qualitative monetary easing (QQE), with a view to achieving the price stability target of 2 percent. In my speech today entitled "Quantitative and Qualitative Monetary Easing and Economic Theory," I would like to talk about the following three points.