At the Monetary Policy Meeting held in April 2023, the Bank confirmed that it will patiently continue with monetary easing while nimbly responding to developments in economic activity and prices as well as financial conditions. It also decided to conduct a broadperspective review of the monetary policy it has been implementing for the past 25 years.
Achieving price stability has been a challenge facing Japan's economy for a long period since it fell into deflation in the late 1990s. To address the challenge, the Bank has devised various monetary policy measures. These measures have interacted with and influenced wide areas of Japan's economic activity, prices, and financial sector.