boj minutes, 2024-01-23
The past 25 years were divided into the following three phases, and the level of monetary accommodation during each phase was examined: (1) 1999 to 2006, when the non-performing loan problem in Japan's banking sector exerted downward pressure on the economy (Phase 1); (2) 2008 to 2012, when the economy was affected by the Global Financial Crisis (Phase 2); and (3) 2013 and after, when policy responses to deflation were strengthened (Phase 3).
Sentiment: neutral
Topic: mp_interest_rate