Are We Turning Japanese? (Musical Tribute)

April 7, 2009
TEXT-BOJ statement on monetary policy

The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around 0.1 percent.

The Bank also decided to expand the range of eligible collateral for its provision of credit to further facilitate money market operations...

Exports have been decreasing substantially reflecting the deterioration in overseas economic conditions, and domestic demand has become weaker against the background of declining corporate profits and the worsening employment and income situation in the household sector.

In addition, there is the risk of a further weakening in domestic private demand if firms' medium- to long-term growth expectations decline and pressures to adjust capital stocks and employment increase.

The Bank will continue to exert its utmost efforts as a central bank to facilitate the return of Japan's economy to a sustainable growth path with price stability.



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