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To: Earlie who wrote (82303)	3/19/2001 11:45:30 AM
From: Box-By-The-Riviera™	Respond to of 436258

posted at longwaves The Bank of Japan decided Monday to radically ease monetary policy to combat deflation and ward off a possible relapse into recession in the world's second largest economy. The markets were expecting the BOJ to lower its key overnight lending rate back to zero. The central bank will accomplish that in a much more drastic monetary easing that boosts liquidity in Japan's credit markets. According to the Kyodo news service, the BOJ decided to boost purchases of long-term Japanese government bonds. It will also set targets for financial institutions' reserve deposits in their current accounts at the central bank, to about 5 trillion yen ( $40.6 billion ) , or roughly 20 percent more than the 4 trillion yen in those current accounts now. BOJ Governor Masaru Hayami was scheduled to meet the press at 7 p.m. Tokyo time.