The Bank of Japan introduced a 2% inflation target in January 2013, and it was set out in a joint statement by the government and the Bank of Japan. Monetary policy centered on unprecedented easing, which began in April 2013, was rolled out on this basis.
In January 2013, the Bank of Japan set a target of stabilizing the inflation rate at 2%.
The inflation target was included in a joint statement by the government and the Bank of Japan, becoming the foundation for policy management.
The unprecedented easing launched in April of that year became a signature policy combining bold monetary easing and a growth strategy aimed at achieving the 2% target.
The initiative was described as intended to stabilize expectations for future prices and clarify the framework for monetary policy.