Foreign Central Banks
The Bank of Japan, alone among the four major central banks, adjusted its monetary policy setting recently. The actual monthly average supply of current account balances has been increasing gradually for most of the past year, reaching a level of about ¥30 trillion. On January 20, the Bank raised its current account balance target from “around 27 to 32 trillion yen” to “around 30 to 35 trillion yen,” in order to “reaffirm its policy stance to overcome deflation and ensure a continued recovery.”
Suggested citation: "Foreign Central Banks," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-02, pp. 18, 02.01.2004.