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(CEP News) Frankfurt - Bank of Japan Governor Masaaki Shirakawa reiterated that the central bank is mindful of the risks involved in additional rate cuts, adding that further easing in the BOJ's monetary policy could impair the proper functioning of money markets.
Speaking at a press conference following the BOJ's emergency meeting on Tuesday, Shirakawa added that the BOJ was keeping all options open regarding monetary policy, with data pointing to output, labour market and spending all at severe levels. The central banker also said money markets in Japan were still feeling strains and that the BOJ would take measures to make available ¥3 trillion yen to lenders in an effort to ease tensions. Furthermore, eligible corporate bonds will rise by ¥450 billion, while eligible loans on deed will increase ¥1.6 trillion, Shirakawa said, adding that the measures outlined on Tuesday were the best that the BOJ could offer at present. Shirakawa also said that while strains were still noted in the Japanese money markets, markets were still more stable than those in both the U.S. and Europe. Written by CEP News European Staff in Frankfurt,
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