I believe that a variety of staffers with different backgrounds, who not only studied economics or jurisprudence but also public policy theory, will be required as those in charge of economic policy, including monetary policy. I thus expect that public policy study itself will be further developed. 2  BIS central bankers’ speeches  II.
Changes in monetary policy management  Based on the summary I have just presented, let us look back at changes in monetary policy among public policies. In the United States, Europe, and also Japan, a central bank’s primary mission had long been to secure the smooth functioning of the financial system, rather than ensure price stability or economic stability.