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Announcement of the Monetary Policy Meeting Decisions (Feb.4,5)

February 5, 2004
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 30 to 35 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.


Meeting hours :
February 4th : 14:00-15:42
February 5th : 9:00-11:52

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)

February 4th:
From Ministry of Finance:
Hiroki Tsuda, Deputy Vice Minister for Policy Planning and Co-ordination (14:00-15:42)

From Cabinet Office:
Yoshirou Nakajou, Director General for Economic and Fiscal Management (14:00-15:42)

February 5th:
From Ministry of Finance:
Yuji Yamamoto, Senior Vice Minister of Finance (9:00-11:44, 11:47-11:52)

From Cabinet Office:
Mitsuru Taniuchi, Director General for Economic Assessment and Policy Analysis (9:00-11:44, 11:47-11:52)

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

"The Bank's View"3:00 p.m. on Thursday, February 5
Full text (Consisting of "The Bank's View" and "The Background")2:00 p.m. on Friday, February 6 (Japanese)
4:30 p.m. on Monday, February 9 (English)

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