The Policy Board of the Bank of Japan has decided last week to bring forward the next Monetary Policy Meeting to today and tomorrow to discuss and decide the principal terms and conditions for purchases of exchange-traded funds (ETFs) and Japan real estate investment trusts (J-REITs) with a view to starting such purchases promptly.
Therefore, in my speech today, based on the Outlook for Economic Activity and Prices released last week, I will talk about the developments in the global economy, and then mainly about Japan’s economic and price developments and the Bank’s “comprehensive monetary easing.” While I make clear at the beginning that there will be no information that implies the decision to be made at tomorrow’s Monetary Policy Meeting, I hope that my speech today will be of any use in enhancing your understanding on economies at home and abroad, as well as on the Bank’s monetary policy.