Announcement of the Monetary Policy Meeting Decisions (Mar.8)

March 8, 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 :

9:01 a.m. to 3:37 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:

Yoshinori Ohno, Senior State Secretary for Finance (9:01 a.m. to 12:30 p.m.)

Tsunekazu Haraguchi, Deputy Vice Minister for Policy Co-ordination (from 1:20 p.m.)

From Economic Planning Agency:

Eiji Kawade, Director-General of the Co-ordination Bureau (from 9:01 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 Friday, March 10, 2000

English version of "The Background"

End of March 2000

Release of minutes :

2:00 p.m. on Thursday, April 13, 2000