Function of Policy Board members in making monetary policy decisions  In the remainder of my remarks, I will briefly touch on the central bank committee system in which monetary policy decisions are made as a result of deliberations among committee members, rather than by any one individual.
The Bank of Japan Act stipulates that the Policy Board shall be established, composed of nine members – the Governor, two Deputy Governors, and six Members of the Policy Board. It also stipulates that matters concerning monetary policy shall be decided by the Policy Board.