The Bank of Japan conducts monetary policy based on the principle that the policy shall be aimed at achieving price stability, thereby contributing to the sound development of the national economy. At the Monetary Policy Meeting held today, the Policy Board reviewed the price stability goal in the medium to long term adopted in February 2012, in light of the above-mentioned principle. As a result, it decided to introduce the price stability target and restate the framework for the conduct of monetary policy. Price stability is defined conceptually as a state where various economic agents including households and ... (full story)