Price Stability and Monetary Policy
- What is monetary policy and how is it carried out in Japan?
- What is Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control?
- How does monetary policy affect economic activity and prices?
- What is the Bank's thinking on price stability and the price stability target?
- What are market operations?
- What types of open market operations does the Bank conduct?
- What are outright purchases of Japanese government bonds (JGBs)?
- Can long-term interest rates be controlled by central banks, although the conventional view is that central banks can control short-term interest rates but not long-term interest rates?
- How have the Bank's guidelines for market operations changed?
- What is the monetary base?
- What is the reserve requirement system? What are excess reserves?
- What is the Complementary Deposit Facility? How does a negative interest rate applied to current accounts at the Bank affect financial markets?
- What kind of role does the official discount rate -- the basic interest rate that was used by the Bank in providing loans to financial institutions -- currently play?
- What is the uncollateralized overnight call rate? What is the excess and shortage of funds?
- What are Monetary Policy Meetings (MPMs), and when are they held?
- When does the Bank release the minutes and transcripts of Monetary Policy Meetings (MPMs)?
- How does the Bank make its assessments and projections of economic activity and prices?
- What are the factors on which the Bank bases its assessment of economic activity? How does it assess developments in expenditure in each economic sector, namely, public investment, exports and imports, business fixed investment, private consumption, and housing investment?
- What are the factors on which the Bank bases its assessment of economic activity? How does it assess developments in production as well as employment and income?
- What are the factors on which the Bank bases its assessment of prices?