First, the Bank decided to introduce a 2 percent “price stability target.” Second, the Bank decided to introduce an “open-ended asset purchasing method” under the Asset Purchase Program.
Third, the Bank decided on the joint release of a statement with the Government titled “Joint Statement of the Government and the Bank of Japan on Overcoming Deflation and Achieving Sustainable Economic Growth.” Today, before exchanging views with you, I will first talk about the current state and the outlook for economies at home and abroad, followed by the thinking behind the recent monetary policy decision by the Bank.