PARIS, April 29 - Japanese Minister for Economic and Fiscal Policy Heizo Takenaka said on Tuesday that more aggressive monetary policy action by the European Central Bank could help to ensure economic recovery and higher growth. "A more aggressive monetary policy by the European Central Bank would be welcome," he told the OECD Forum, adding that European fiscal policy should avoid becoming pro-cyclical by allowing so-called automatic stabilisers to play. The ECB is under pressure to cut interest rates again, after lowering its benchmark borrowing level in March by a quarter point to 2.5 percent. But recent comments from ECB policymakers has made markets wonder whether another easing is on the cards. Takenaka also said he expected the U.S. Federal Reserve to continue with its accommodative, forward looking monetary policy and assured the OECD audience that Japan's structrual reforms would start to yield returns from 2005 onwards.//