An Overview of Fiscal and Public Debt Dynamics
BOJ's recent statement on monetary policy
April 28, 2023
Statement on Monetary Policy (excerpt)
2. With extremely high uncertainties surrounding economies and financial markets at
home and abroad, the Bank will patiently continue with monetary easing while
nimbly responding to developments in economic activity and prices as well as
financial conditions. By doing so, it will aim to achieve the price stability target of
2 percent in a sustainable and stable manner, accompanied by wage increases.
The Bank will continue with Quantitative and Qualitative Monetary Easing (QQE)
with Yield Curve Control, aiming to achieve the price stability target, as long as it is
necessary for maintaining that target in a stable manner. It will continue expanding
the monetary base until the year-on-year rate of increase in the observed.
consumer price index (CPI, all items less fresh food) exceeds 2 percent and stays
above the target in a stable manner. The Bank will continue to maintain stability of
financing, mainly of firms, and financial markets, and will not hesitate to take
additional easing measures if necessary.
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