11/4/2010
Japan''s central bank ready for more monetary easing steps
TOKYO, Bank of Japan Governor (BOJ) Masaaki Shirakawa said Thursday that the central bank is ready to take additional monetary easing steps if the Japanese economy worsens.
"The BOJ will take appropriate measures by closely examining economic and price trends," Shirakawa said at a seminar here, one day after the US Federal Reserve Board announced bold easing measures.
The BOJ announced on Oct. 5 that it will examine creating a JPY 5 trillion (USD 62 billon) fund to purchase long-term government bonds, exchange-traded funds and other assets to spur the economy.
"If the economic situation changes significantly, the BOJ may expand the fund," the governor said. Also on Oct. 5, the central bank also lowered a key interest rate to a range of zero percent to 0.1 percent from the current 0.1 percent, effectively introducing a zero interest rate policy.
"We believe the current rates are the most appropriate," Shirakawa said. The central bank began a two-day policy board meeting earlier in the day, which is expected to assess foreign exchange markets and effect on Japan's economy by the Fed's action on Wednesday.
He declined to comment on the Fed's decision to buy a further USD 600 billion of government bonds by the middle of next year to boost the US economy.
http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2122858&Language=en
Japan''s central bank ready for more monetary easing steps
TOKYO, Bank of Japan Governor (BOJ) Masaaki Shirakawa said Thursday that the central bank is ready to take additional monetary easing steps if the Japanese economy worsens.
"The BOJ will take appropriate measures by closely examining economic and price trends," Shirakawa said at a seminar here, one day after the US Federal Reserve Board announced bold easing measures.
The BOJ announced on Oct. 5 that it will examine creating a JPY 5 trillion (USD 62 billon) fund to purchase long-term government bonds, exchange-traded funds and other assets to spur the economy.
"If the economic situation changes significantly, the BOJ may expand the fund," the governor said. Also on Oct. 5, the central bank also lowered a key interest rate to a range of zero percent to 0.1 percent from the current 0.1 percent, effectively introducing a zero interest rate policy.
"We believe the current rates are the most appropriate," Shirakawa said. The central bank began a two-day policy board meeting earlier in the day, which is expected to assess foreign exchange markets and effect on Japan's economy by the Fed's action on Wednesday.
He declined to comment on the Fed's decision to buy a further USD 600 billion of government bonds by the middle of next year to boost the US economy.
http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2122858&Language=en
