Economic and Fiscal Policy Minister Jōnai Minoru (城内実) said at a press conference following the Cabinet meeting that the specific methods of monetary policy should be left to the Bank of Japan. The Bank of Japan continued considering monetary policy on the same day.
At a press conference following the Cabinet meeting, Economic and Fiscal Policy Minister Jōnai Minoru (城内実) said the specific methods of monetary policy should be left to the Bank of Japan. This established a government policy stance under which policy implementation is expected to center on the Bank of Japan’s judgment.
According to reports, the Bank of Japan was continuing to consider specific methods of monetary policy on the same day. Together with the remarks at the press conference, this suggests that the Bank of Japan’s judgment will be important at the next stage of policy decisions.
The development is being viewed as a renewed indication that ultimate decision-making authority over the conduct of monetary policy should be left to the Bank of Japan.