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Announcement of the Monetary Policy Meeting Decisions (July 16)

July 16, 2002
Bank of Japan

(For immediate release)

At the Monetary Policy Meeting held today, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the intermeeting period:The Bank of Japan will conduct money market operations, aiming at the outstanding balance of the current accounts at the Bank at around 10 to 15 trillion yen.

Should there be a risk of financial market instability, such as a surge in liquidity demand, the Bank will provide more liquidity irrespective of the guideline above.

(Reference)

Meeting hours :
July 15th: 14:02-15:59
July 16th:9:00-12:16

Members present :
Masaru Hayami ( Governor )
Sakuya Fujiwara ( Deputy Governor )
Yutaka Yamaguchi ( Deputy Governor )
Kazuo Ueda
Teizo Taya
Miyako Suda
Shin Nakahara
Hidehiko Haru
Toshikatsu Fukuma

(Others present)

July 15th:
From Ministry of Finance :
Hideto Fujii, Deputy Vice Minister for Policy Planning and Co-ordination
(14:02-15:59)

From Cabinet Office :
Yuzo Kobayashi, Vice-Minister for Economic and Fiscal Policy
(14:02-15:59)

July 16th
From Ministry of Finance :
Takayoshi Taniguchi, Senior Vice-Minister
( 9:00-11:41, 11:44-12:16)

From Cabinet Office :
Yuzo Kobayashi, Vice-Minister for Economic and Fiscal Policy
( 9:00-10:30 )

Heizo Takenaka, Minister of State for Economic and Fiscal Policy
(10:32-11:41 )

Release of Monthly Report of Recent Economic and Financial Developments :
( Consisting of "The Bank's View" and "The Background" )

Japanese version of the entire report and English version of "The Bank's View"
2:00 p.m. on Wednesday, July 17, 2002
English version of "The Background"
Within a few business days from the release of"The Bank's View"

Release of minutes :
2:00 p.m. on Wednesday, August 14, 2002