Announcement of the Monetary Policy Meeting Decisions (December 16,17)

December 17, 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 :
December 16th : 13:59-16:25
December 17th : 9:00-12:32

Members present :
Toshihiko Fukui ( Governor )
Toshiro Muto ( Deputy Governor )
Kazumasa Iwata ( Deputy Governor )
Kazuo Ueda
Miyako Suda
Shin Nakahara
Hidehiko Haru
Toshikatsu Fukuma
Atsushi Mizuno

(Others present)

December 16th:
From Ministry of Finance:
Michitoo Ishii, Deputy Vice Minister for Policy Planning and Co-ordination (13:59-16:25)

From Cabinet Office:
Hiromi Katou, Deputy Director General for Economic Assessment and Policy Analysis (13:59-16:25)

December 17th:
From Ministry of Finance:
Isamu Ueda, Senior Vice Minister of Finance (9:00-12:19, 12:22-12:32)

From Cabinet Office:
Hiromi Katou, Deputy Director General for Economic Assessment and Policy Analysis (9:00-12:19, 12:22-12:32)

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 Friday, December 17
Full text (Consisting of "The Bank's View" and "The Background")2:00 p.m. on Monday, December 20 (Japanese)
4:30 p.m. on Tuesday, December 21 (English)

Release of minutes:
2:00 p.m. on Monday, January 24