Journal Article

Beyond zero: transparency in the Bank of Japan’s monetary policy

Abstract: Japan?s economy has problems that, undoubtedly, are more complex than monetary policy might be expected to solve. But other kinds of policy actions stand a better chance of success when monetary policy is transparent. Transparency means that market participants? anticipations of central bank actions are congruent with those of policymakers themselves. The Bank of Japan has made repeated efforts toward greater transparency since achieving independence in 1998.

Keywords: Monetary policy - Japan; Bank of Japan;

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2001

Issue: Mar

Order Number: 2