TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said he is confident of joint forex intervention if unilateral action by Japan has limited impact in the face of a possible military response to the terrorist attacks in the US. "I think there will be a meeting to discuss worldwide cooperation if such a situation arises. I am confident of concerted market intervention," he told a regular press briefing. Shiokawa was responding to a question on whether Japan could act alone to head off a possible dollar decline if the US launches reprisals against the terrorist attacks. Deputy Finance Minister for International Affairs Haruhiko Kuroda "will soon leave for Europe and the US to explore the possibility of a G7 meeting," he added, though he denied Kuroda will discuss the possibility of joint action. "I think we should know what the US is thinking about the (possibility of a) G7 meeting. I know European counterparts also have opinions," he said. The meeting of G7 finance ministers normally accompanies the regular IMF/World Bank gathering, which was postponed from the end of September after the attacks on the US. "We are most concerned that speculative investors would disturb the market after the attacks on the US. We want to stabilise the market as much as possible," Shiokawa said of the Japanese government's recent forex action. "If there are signs of a falling trend in the dollar emerging, we will take necessary measures," he said, asked whether Japan is ready to intervene unilaterally again after this week's actions. Shiokawa said the ministry proposed to Bank of Japan policy board members at their meeting yesterday that the BoJ could raise the target for the outstanding balance of current accounts at the bank to 8 trln yen from 6 trln. In the event, the central bank said it will provide ample liquidity, equivalent to more than 6 trln yen for the time being. Last week, the bank injected additional liquidity of around 2.0 trln yen into the short-term money market to cope with concerns related to the attacks in the US, with the balance of current accounts then rising to around 8.3 trln yen. Shiokawa said the central bank's wording that it would target a level 'above 6 trln yen' might have suggested the balance should hover above a base line at that level. "But I was relieved to hear that the governor told reporters that the BoJ will not oppose further quantitative easing," he added. "The ministry urged the bank at its meeting to go ahead with unsterilised intervention as part of its easing measures. The most important point is we hope the BoJ will provide a gigantic amount of funds," he said.