Announcement of the Monetary Policy Meeting Decisions (July 13)

July 13, 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.

(Reference)

Meeting hours :
July 12th : 14:00-15:43
July 13th : 8:59-12:17

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)

July 12th:
From Ministry of Finance:
Michitoo Ishii, Deputy Vice Minister for Policy Planning and Co-ordination (14:00-15:43)

From Cabinet Office:
Jun Hamano, Director General for Economic and Fiscal Management (14:00-15:43)

July 13th:
From Ministry of Finance:
Keiichi Ishii, Senior Vice Minister of Finance (8:59-11:38, 11:40-12:17)

From Cabinet Office:
Jun Hamano, Director General for Economic and Fiscal Management (8:59-11:38, 11:40-12:17)

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, July 13
Full text (Consisting of "The Bank's View" and "The Background")2:00 p.m. on Wednesday, July 14 (Japanese)
4:30 p.m. on Thursday, July 15 (English)

Release of minutes:
2:00 p.m. on Friday, August 13