Outline of Announcements
- Framework Governing Communication Activities
- Reports Made to the Diet
- Other Communication Activities
The Bank releases the minutes of MPMs and public statements on most of the Policy Board decisions in a timely manner, from the viewpoint of fulfilling its accountability to the public.
The Bank actively discloses information by various means, for example, reporting to and attendance at the Diet, holding press conferences and making speeches, and providing information through its web site.
Framework Governing Communication Activities
The Law requires the Bank to clarify to the public the content of its decisions, as well as its decision making processes, regarding monetary policy. As a specific framework, the Law stipulates the following.
- Releasing the minutes and transcripts of MPMs.
- Reporting to and attendance at the Diet.
- Public announcement of the Gyoumu Gaikyo Sho (Outline of Business Operations).
In addition to compliance with the above, the Bank discloses information in accordance with the Law Concerning Access to Information Held by Incorporated Administrative Agencies, Etc.
Reports Made to the Diet
The Bank makes reports to the Diet regarding the conduct of its policies, its operations, and its organizational management. The Bank seeks actively to fulfill this obligation.
Specifically, the Bank prepares and submits the Semiannual Report on Currency and Monetary Control to the Diet, in June and December each year, and explains its policies and answers questions at committees of both houses of the Diet, the House of Representatives and the House of Councillors. The Governor and other executives appear before committees of both houses of the Diet when requested to answer questions regarding the conduct of the Bank's policies and operations.
Other Communication Activities
In keeping with the principles of the Law described above, the Bank aims to establish a high degree of transparency with regard to its conduct of policies and operations by taking the following steps to carry out external relations activities.
- Releasing public statements on most of the Policy Board decisions.
- Having the Governor hold regular press conferences.
- Making speeches and holding press conferences nationwide by the Governor, the Deputy Governors, and the other Policy Board members.
- Providing information through the Bank's web site.
- Releasing publications, such as Nippon Ginko Seisaku Iinkai Geppo (Monthly Report of the Policy Board of the Bank of Japan, available only in Japanese), Bank of Japan Statistics, Monetary and Economic Studies, Nichigin (Bank of Japan, a quarterly journal available only in Japanese), and the Annual Review.
- Offering a tour of the Bank's Head Office and branches.
- Offering a tour of the Currency Museum and the Bank of Japan Otaru Museum.
- Providing an information service to respond to inquiries from the public and making available the Bank's publications and releases.
- Making historical documents available to the public at the Archive in the IMES.
In addition to the above, the Bank uses various channels to keep the public informed about not only the Bank's conduct of policies and operations, but also economic and financial developments. One such example is the Bank's activities in cooperation with the Central Council for Financial Services Information, which aims to provide financial information.