27 February 2002, 08:23 Japan's Fukuda believes BoJ unlikely to decide on more easing tomorrow
TOKYO (AFX-ASIA) - Cabinet Secretary Yasuo Fukuda said he believes
the Bank of Japan is unlikely to decide on further monetary easing at
its policy board meeting tomorrow, though he suggested the bank may act
in a month's time.
Asked whether a commitment from the BoJ this morning to consider
aligning policy with the government means it will likely launch further
monetary easing, Fukuda said: "The BoJ does not aim to achieve that
tomorrow."
However, he noted that the central bank meets once a month.
"The government and the central bank share a common view on the
economy. If there is a common view on the economy, the BoJ's response
will be the same as the government," Fukuda said.
"It doesn't mean we will do nothing over the month. It is important
to continue making efforts to share a common view."
Bank of Japan governor Masaru Hayami offered this morning a
commitment to the government to consider further monetary easing at the
bank's policy board meeting tomorrow, according to Finance Minister
Masajuro Shiokawa.
Shiokawa, Hayami and Fukuda attended this morning's unofficial
meeting to discuss anti-deflation measures, along with State Minister
for Economic and Fiscal Policy Heizo Takenaka and Minister of Financial
Affairs Hakuo Yanagisawa.
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