At the Monetary Policy Meeting (MPM) held on March 18 and 19, 2024, the Bank of Japan changed its monetary policy framework, judging that it was now within sight that the price stability target would be achieved in a sustainable and stable manner. The Bank considers that the large-scale monetary easing that lasted for 11 years since the introduction of Quantitative and Qualitative Monetary Easing (QQE) in April 2013 had fulfilled its role. Today, I would like to provide an overview of the Bank's assessment of the developments in economic activity and prices underlying this decision, including the contents of the ... (full story)