Announcement of the Monetary Policy Meeting Decisions (Mar. 20)

March 20, 2002
Bank of Japan

(For immediate release)

At the Monetary Policy Meeting held today, the Bank of Japan decided, by majority vote, to maintain 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 the current accounts at the Bank at around 10 to 15 trillion yen.

For the time being, to secure the financial market stability towards the end of a fiscal year, the Bank will provide more liquidity irrespective of the guideline above.

(Reference)

Meeting hours :
March 19th, 2002 : 14:00-15:50
March 20th, 2002 : 9:00-13:23

Members present :
Masaru Hayami ( Governor )
Sakuya Fujiwara ( Deputy Governor )
Yutaka Yamaguchi ( Deputy Governor )
Toshio Miki
Nobuyuki Nakahara
Kazuo Ueda
Teizo Taya
Miyako Suda
Shin Nakahara

(Others present)

March 19th
From Ministry of Finance :
Hideto Fujii, Deputy Vice Minister for Policy Planning and Co-ordination
(14:00-15:50)

From Cabinet Office :
Yuzo Kobayashi, Vice-Minister for Economic and Fiscal Policy
(14:00-15:50)

March 20th
From Ministry of Finance :
Takayoshi Taniguchi, Senior Vice-Minister
(9:00-12:33, 12:43-13:23)

From Cabinet Office :
Yuzo Kobayashi, Vice-Minister for Economic and Fiscal Policy
(9:00-10:42)

Heizo Takenaka, Minister of State for Economic and Fiscal Policy
(10:55-12:20)

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"
2:00 p.m. on Friday, March 22, 2002
English version of "The Background"
With in a few business days from the release of"The Bank's View"

Release of minutes :
2:00 p.m. on Tuesday, May 7, 2002