I would therefore like to devote the rest of my speech to a fairly detailed examination of the Bank’s role and its approach to provision of credit, in light of the changes in the Bank’s balance sheet. III. Extension of Credit by the Bank of Japan A.
For instance, the steam engine would not have been possible without advancements in smelting and refining techniques of new ores and fuels that led to economic use of coal. This in turn led to advances in the chemical industry, which threw up a range of consumer goods such as soap, glasses, etc.