The  9  10  Shirai, “Japan’s Economic Activity, Prices, and Monetary Policy.”  BIS central bankers’ speeches  BOE places price stability as its primary mandate; however, the inclusion of employmentrelated conditions may reflect the need to clarify the BOE’s views with regard to the existing trade-off between high inflation and low economic and employment growth.
In contrast, in Japan the Bank’s primary mandate, clearly stipulated in the Bank of Japan Act, is to achieve price stability. In addition, the current unemployment rate is not a significant issue in Japan.