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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (1107)	12/17/2002 10:33:15 AM
From: Les H	Read Replies (1) \| Respond to of 48792

The Bank of Japan policy board announced today to keep monetary policy unchanged through unanimous decision. The central bank said it will keep aiming for the upper end of its 15-20 trillion yen current account deposit target and reiterated that it will provide funds regardless of target if risks to financial stability arise. The bank said it would also accept a wider range of asset-backed commercial paper as collateral in money market operations. Japan PM Koizumi said today he wants the next BoJ Governor to come from the private sector. Koizumi must choose a new BoJ governor by March and he has said the new governor of the Bank of Japan should support an aggressive anti-deflation policy. This means that in the coming months much attention will be paid to the possible replacement for BoJ Governor Hayami given his staunch opposition to government proposals such as a weaker yen and inflation targeting. A replacement in line with government thinking could easily spark a renewed decline in the yen as early as March, when Hayami is expected to step down. In related news, Japan FSA and Economics Minister Heizo Takenaka killed speculation he would also become BoJ Governor. forexnews.com