"Cash" on the liability side of the BOJ
balance sheet indicates the balance of BOJ
notes circulating in the market, and "Reserves" indicates the deposits the central bank is entrusted with by the private banks.
"However, the rising yen will place more downward pressure on consumer prices, so I expect the BOJ
to ease in July, using all three dimensions of its current policy framework."
At the time of the 1987 Louvre Accord, the BOJ
had reduced the official discount rate to 2.5%, regarded at the time as a record low.
The appointments of BOJ
governor and two deputy governors must be approved by both chambers of the Diet.
is expected to let its CP and corporate bond buying programmes expire because of the diminishing role they are playing with credit markets on the mend.
Since Japanese short-term interest rates under the zero-interest-rate policy effectively fell to zero, the BOJ
has been conducting experimental monetary policy.
A typical example of this is how the BOJ
's reaction to the weakening of the Japanese economy only weakened the economy further.
Speculation is rife that the BOJ
will decide at its Policy Board meeting later this month to end the policy.
in late 1990s, Nakaso served as a chief of the BOJ
's section to safeguard the financial system.
Kuroda reiterated his view that the BOJ
's introduction of the inflation target, proposed by Prime Minister Shinzo Abe, was "epoch-making" and pledged to "certainly fulfill" the target, calling it the "biggest mission for the BOJ
For the BoJ
to call an emergency policy meeting, it would take a sustained yen rise above 76 to the dollar, accompanied by falls in Tokyo stock prices that are sharp enough to hurt business confidence, the sources say.
In a surprise move, the BOJ
eased monetary policy in what some economists said was an attempt to offset the failures of its intervention efforts.