BOJ Governor Masaru Hayami reportedly said the central bank seriously consider government advice on its monetary policy, and take "appropriate" policy steps. He said economic conditions had worsened quite quickly mainly because of the slowdown in the global economy and falls in global stock prices. He said it would be "extremely difficult" for the bank to set inflation targets in order to help the economy. He said increasing outright JGB purchases may lead to higher long-term interest rates and harm the credibility of government bonds.