publication . Article . 2002

Japan's approach to monetary policy

Giovanni P. Olivei;
Open Access
  • Published: 01 Jan 2002
The goal of monetary policy as conducted by the Bank of Japan is to contribute to the sound development of the national economy through the pursuit of price stability. The objective of price stability, however, is not precisely defined as it has been for other central banks. Following the implementation of the new Bank of Japan Law in 1998, the monetary policy framework is characterized by central bank independence, the primacy of the price stability objective, instrument independence, and policy decisions made by a monetary policy committee with regular meetings and published minutes. At its meetings, the monetary policy committee discusses the economic and fin...
free text keywords: Monetary policy - Japan ; Bank of Japan ; Banks and banking, Central - Japan

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