We are pleased to welcome all of you, distinguished speakers and guests, to the 2026 BOJIMES Conference. Thank you very much for your participation. The theme of this year’s conference is "Monetary Policy from New Perspectives." I am sure that supply shocks loom large in everyone’s mind. They are not a new phenomenon but at least have become more frequent. Whether a new perspective is truly needed, I leave it for debate — but revisiting past experience is, I think, an indispensable starting point. I do not have a new perspective to offer at this point. Instead, let me go through Japan’s experience with major ... (full story)