Statement by Masaru Hayami, Governor of the Bank of Japan on September 25,1999 in Washington D.C.
September 26, 1999
Bank of Japan
- The Bank of Japan has provided ample liquidity in the context of the zero interest rate policy.
- The Bank is concerned about the negative impact of the recent rapid yen appreciation on economic activity and prices. This view is shared with the government.
- The Bank is prepared to use the flexibility it has in the context of the present monetary policy stance to respond appropriately and timely to developments in the economy as well as financial markets, including the foreign exchange market.
- We are exploring how we could improve money market operations so as to assure the further permeation of liquidity in the context of the zero interest rate policy.