To meet this accountability requirement, the Act requires the Bank to promptly publish the minutes of the MPM, which provide a summary of discussions held at each MPM, and to publish a transcript (available only in Japanese) of each MPM. The minutes of each MPM are approved at the following MPM and released three business days later.
The transcript of discussions held at each MPM, which shows the details of each participant’s remarks along with the names of speakers, is made public ten years after the MPM concerned. Furthermore, pursuant to the Act, the Bank periodically submits a Semiannual Report on Currency and Monetary Control to the Diet (Japan’s national government body) on its policies.