Tuesday, March 21, 2006

Bank of Japan to hold meeting with banks to exchange views on financial issues

Mar. 10--TOKYO -- The Bank of Japan has informed banks and securities firms which participate in its open-market operations that it will hold a meeting with them Monday to exchange views on financial issues, BOJ officials said Friday.

They said the meeting is aimed at achieving a smooth monetary policy maneuver by deepening dialogue with market participants as it ended its super-easy policy on Thursday, switching back to an interest-rate controlling policy for the first time in five years from that of flooding the financial system with excess cash.

The BOJ wants to discuss with them issues associated with monetary adjustment and functional aspects of the short-term market, they said.

The BOJ has informed 144 financial institutions of the meeting, to be held at the central bank by BOJ Executive Director Masaaki Shirakawa, the officials said.

BOJ Governor Toshihiko Fukui and members of the Policy Board will not attend the meeting, the officials said.

Source: Kyodo News International (Japan), Mar 10, 2006


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