Bank of Japan leaves monetary policy unchanged

0 Comments | AFP, February, 2004

TOKYO, (AFP) — The Bank of Japan's (BOJ) policy board has decided unanimously to leave its easy monetary policy unchanged at the end of a two-day scheduled meeting.

Economists had largely expected the central bank to take no action after its surprise credit easing at its last meeting on January 20 aimed at fighting deflation and ensuring economic recovery.

That action came in the form of pumping more cash into the short-term money market to support commercial bank lending.

"The Bank of Japan will conduct money market operations, aiming at the outstanding balance of current accounts held at the bank of around 30 to 35 trillion yen (284 billion to 332 billion dollars)," the bank said in a statement.

"Should there be a risk of financial market...