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Announcement of the Monetary Policy Meeting Decisions (Apr.7,8)

April 8, 2003
Bank of Japan

(For immediate release)

At the Monetary Policy Meeting held today, the Bank of Japan decided, by majority 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 17 to 22 trillion yen.

For the time being, given that significant uncertainty including geopolitical risks is likely to persist, the Bank will provide more liquidity irrespective of the above target when necessary to secure financial market stability.


Meeting hours :
April 7th: 14:00-15:52
April 8th:9:00-13:17

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)

April 7th:
From Ministry of Finance:
Hiroki Tsuda, Deputy Vice Minister for Policy Planning and Co-ordination (14:00-15:52)
From Cabinet Office:
Yuzo Kobayashi, Vice-Minister for Economic and Fiscal Policy (14:00-15:52)

April 8th:
From Ministry of Finance:
Takayoshi Taniguchi, Senior Vice Minister of Finance (9:00-12:46, 12:55-13:17)
From Cabinet Office:
Yuzo Kobayashi, Vice-Minister for Economic and Fiscal Policy (9:00-10:28)
Heizo Takenaka, Minister of State for Economic and Fiscal Policy (10:41-12:46)

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 Wednesday, April 9
English version of "The Background"
Within a few business days from the release of "The Bank's View"

Release of minutes:
2:00 p.m. on Friday, May 23