TOKYO (AFX-ASIA) - State Minister for Economic and Fiscal Policy Heizo Takenaka said he will not attend the policy meeting of the Bank of Japan today or tomorrow as a government respresentative due to parliamentary commitments.
Earlier this week Takenaka had said he wanted to attend the policy board meeting to request that the central bank take a flexible policy stance.
"Now that the Diet (parliament) session is continuing, I cannot participate in the BoJ's policy board meeting," Takenaka told AFX Asia this afternoon.
Asked whether the government will, nevertheless, urge the bank to further ease monetary policy, he said: "We trust the BoJ's policymaking ability. The bank will make its own judgement and take proper measures if needed."
He added: "The current situation is not one where the government can make any requests to the BoJ on monetary policy as I cannot join the meeting."
Takenaka said the government's economic and policy committee may consider recent sharp falls in share prices at its meeting on February 12.
"We are planning to discuss the recent economic situation, not only focusing on the weakening of stock prices but some members may take up the issue of the stockmarket in the debate," he said.