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Announcement of the Monetary Policy Meeting Decisions (August 10)

August 10, 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 :
August 9th : 14:00-15:58
August 10th : 8:59-11:38

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)

August 9th:
From Ministry of Finance:
Michitoo Ishii, Deputy Vice Minister for Policy Planning and Co-ordination (14:00-15:58)

From Cabinet Office:
Hiromi Katou, Deputy Director General for Economic Assessment and Policy Analysis (14:00-15:58)

August 10th:
From Ministry of Finance:
Keiichi Ishii, Senior Vice Minister of Finance (8:59-11:19, 11:21-11:38)

From Cabinet Office:
Jun Hamano, Director General for Economic and Fiscal Management (8:59-11:19, 11:21-11:38)

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 Tuesday, August 10
Full text (Consisting of "The Bank's View" and "The Background")2:00 p.m. on Wednesday, August 11 (Japanese)
4:30 p.m. on Thursday, August 12 (English)

Release of minutes:
2:00 p.m. on Tuesday, September 14