Bank of Japan’s Shirakawa on the Wires

Written June 16, 2009 at 3:18 AM EST by  

BoJ Gov Shirakawa: Exiting temporary steps depend on market & economic conditions; central banks agree maintaining steps too long will distort markets

- Japan bond yield rise reflect market hopes of hitting bottom
- Japanese economy in line with BoJ April outlook report
- CP, corporate bond issuance has improved significantly
- Must be careful of economy, price downside risks for a while
- Uncertainty remains high over country’s economic outlook
- Watching July Tankan survey to asses economy
- Long term rates based on market economic outlook
- BoJ remains cautious on recovery
Sees both pros and cons in higher commodity prices
- banks need to be mindful of falling share prices

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