BOJ’s Shirakawa: latest step not aimed at forex

(For more stories on the Japanese economy, click [ID:nECONJP])

TOKYO, March 17 (BestGrowthStock) – Bank of Japan Governor Masaaki
Shirakawa said on Wednesday the expansion of the bank’s fund
supply operation was not directly aimed at influencing foreign
exchange rates.

“It’s not appropriate to guide monetary policy with the aim
of directly affecting currency rates,” Shirakawa told a news
conference.

The BOJ eased monetary policy further on Wednesday as
expected, doubling the scale of the money supply tool it adopted
in December although it left the duration of fixed-rate loans to
banks at three months. [ID:nSGE62G03I]

Two of the seven board members dissented, suggesting the
board may have had difficulty justifying the move as the economy
is recovering.
Stock Market Money

(Reporting by Leika Kihara, Rie Ishiguro)

BOJ’s Shirakawa: latest step not aimed at forex