BOJ’s Shirakawa on the wires…

Written March 17, 2010 at 3:33 AM EST by  

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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