The Bank of Japan has developed its first new public relations video in five years and started showing it this month.
In the 18-minute video titled, “The Bank of Japan in Our Daily Lives,” Gov. Haruhiko Kuroda demonstrates the central bank’s resolve to tackle deflation and other challenges facing the economy.
It can be viewed on the BOJ’s website or on YouTube.
The video underscores the importance of price stability and explains a vicious cycle in which perpetually falling goods and services prices reduce profits at manufacturers and retailers and then wages, resulting in economic decline.
“We hope that people who are indifferent to the BOJ will become interested in the bank” because the new video can be watched on smartphones through YouTube, a BOJ spokesman said.