• Is not QE
• BOJ aims to support private demand by pushing down long-term rates
• Wants broad understanding of BOJ’s easy stance to boost economy
• Japan economy somewhat overshooting BOJ’s forecasts
• BOJ’s step aimed at ensuring economic, price recovery
• Will take time for prices to return to desireable level. No miracle step that would lift prices
• Will examine effect, drawbacks of each step in guiding monetary policy
• BOJ policy alone cannot help beat deflation
• Split vote will not hurt BOJ credibility