Bank of Japan on effect of monetary accommodation

Hiroshi Nakaso: The potential impact of large-scale monetary
accommodation
Remarks by Mr Hiroshi Nakaso, Deputy Governor of the Bank of Japan, at the Paris
Europlace Financial Forum, Tokyo, 25 November 2014.

The pursuit of unconventional monetary actions, that are meant to be “powerful”
  would inevitably boost the central bank’s presence in the financial markets
and create a resulting trade off between the intended policy consequences and the
functioning of financial markets. To minimize the potential side effects on market functioning,
the central bank should be committed to continuous dialogue with the market, so that it can
share its views on its policy intention and its outlook for the economy and inflation, as well as
accurately grasp participants’ views on market developments. The Bank of Japan has been,
and will continue to be, committed to these efforts.


http://www.bis.org/review/r141127a.pdf