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Announcement of the Monetary Policy Meeting Decisions (Oct.31)

October 31, 2003
Bank of Japan

(For immediate release)

At the Monetary Policy Meeting held today, the Bank of Japan decided, by unanimous vote, to set 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 current accounts held at the Bank at around 27 to 32 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 above target.

(Reference)

Meeting hours :
October 31th : 9:00-12:15

Members present :
Toshihiko Fukui ( Governor )
Toshiro Muto ( Deputy Governor )
Kazumasa Iwata ( Deputy Governor )
Kazuo Ueda
Teizo Taya
Miyako Suda
Shin Nakahara
Hidehiko Haru
Toshikatsu Fukuma

(Others present)

From Ministry of Finance:
Hiroki Tsuda, Deputy Vice Minister for Policy Planning and Co-ordination
(9:00-11:41, 11:45-12:15)

From Cabinet Office:
Yoshirou Nakajou, Director General for Economic and Fiscal Management
(9:00-11:41, 11:45-12:15)

Release of minutes:
2:00 p.m. on Friday, December 19