BOJ’s Shirakawa on the wires…
Speaking at a press conference, BOJ governor Shirakawa made the following comments:
- Steps not aimed at affecting forex.
- 3 month fund supply has had positive effect on stocks and forex.
- The latest steps may eventually have an influence on forex through economic improvement.
- BOJ aims to support demand by pushing down long term rates.
- Latest step is additional monetary easing.
- Wants broad understanding of BOJ’s easy stance to boost economy.
- Japanese economy is somewhat overshooting BOJ’s forecasts.
- BOJ’s steps aimed at ensuring economy, price recovery.
- Short term market moves should not guide central bank policy.
- It will take time for prices to return to desirable level.
- BOJ policy alone cannot help beat deflation.
- There is no miracle step that would lift prices.
- BOJ will examine effects and drawbacks of each step in guiding monetary policy.
- A split vote will not hurt BOJ credibility.




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