The topic of the Conference is “The Role of Monetary Policy under Low Inflation”, which is the very problem that the Bank of Japan has faced since the 1990s and perhaps what many central banks might face in the future. The 1990s is often referred to as the “lost decade” for Japan’s economy.
The national government also saw its net foreign borrowings decrease. Gross International Reserves Despite recording a month-on-month reduction, the country’s Gross International Reserves remained substantial at $ billion. This buffer represents 10.8 months’ worth of import cover. It is also equivalent to about 5.4 times the country’s short-term external debt based on residual maturity.