Yutaka Harada: Economic activity, prices, and monetary policy in Japan

Speech by Mr Yutaka Harada, Member of the Policy Board of the Bank of Japan, at a meeting with business leaders, Gifu, 1 June 2017.

Introduction

Thank you for giving me this opportunity to exchange views with you and for having taken the time to be here despite your busy schedules. It is indeed a great honor to be here today. Please allow me to express my gratitude for your great cooperation with the business operations of the Bank of Japan, particularly of the Nagoya Branch.

The Bank has implemented quantitative and qualitative monetary easing - or QQE for short - since April 2013 and introduced various additional measures such as the negative interest rate policy and yield curve control, all with the aim of achieving the inflation target of 2 percent.