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Announcement of the Monetary Policy Meeting decisions (July 17)

July 17, 2000
Bank of Japan

(For immediate release)

At the Monetary Policy Meeting held today, the Bank of Japan decided, by majority vote, to maintain its "zero interest rate policy" to assure permeation of the effects of monetary easing.

The guideline for money market operations in the inter-meeting period ahead is as follows:The Bank of Japan will flexibly provide ample funds and encourage the uncollateralized overnight call rate to move as low as possible.

(Reference)

Meeting hours : 9:00 a.m. to 4:01 p.m.

Members present :
Masaru Hayami (Chairman, Governor)
Sakuya Fujiwara (Deputy Governor)
Yutaka Yamaguchi (Deputy Governor)
Susumu Taketomi
Toshio Miki
Nobuyuki Nakahara
Eiko Shinotsuka
Kazuo Ueda
Teizo Taya

(Others present)

From Ministry of Finance:
Yoshitaka Murata, Senior State Secretary for Finance (from 9:00 a.m.)

From Economic Planning Agency:
Eiji Kawade, Director-General of the Co-ordination Bureau (from 9:00 a.m.)

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"
8:50 a.m. on Wednesday, July 19, 2000
English version of "The Background"
End of July 2000

Release of minutes :
2:00 p.m. on Wednesday, September 20, 2000