The Bank of Japan adopted quantitative and qualitative monetary easing; a policy of unprecedented large-scale monetary easing. In the four years since 2013, the economic and price situation in Japan has greatly improved.

In this talk, Governor Kuroda will recount how he was strongly inspired about the importance of expectations in monetary policy by a lecture by Professor Hicks when he studied here at the University of Oxford. He will discuss the latest monetary policy measures in today’s banking as well as topics to help central banks to appropriately manage people’s inflation expectations and raise the effectiveness of monetary policy in a global low-growth, low-inflation environment.