20 March 2002, 08:13 BoJ votes to maintain existing monetary policy, to expand eligible collateral
TOKYO (AFX-ASIA) - The Bank of Japan voted by majority to maintain
its existing monetary policy guidelines at its policy board meeting.
The bank said it decided to maintain its existing policy of
allowing the balance of current-account reserves to go beyond the
existing target of 10-15 trln yen to stabilise financial markets toward
the end-March book closing.
In a technical move, the BoJ added that it agreed to expand
eligible collateral for its money market operations to include loans to
the Deposit Insurance Corp and to the government's Special Account for
Allotment of Local Allocation Tax and Local Transfer Tax.
The loans will become eligible from March 26.
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