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Reply #15: BOJ chief sticks to recovery view amid euro debt worries [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-20-11 06:42 AM
Response to Reply #8
15. BOJ chief sticks to recovery view amid euro debt worries

(Reuters) - Bank of Japan Governor Masaaki Shirakawa said on Thursday that solid growth in emerging markets will continue to underpin Japan's economy, suggesting the central bank will stick to its forecast of a moderate recovery when its board meets next week.

But he reiterated that the BOJ will "act appropriately" by closely monitoring the economic and price outlook, a sign the central bank is ready to ease monetary policy further if risks from abroad threaten to stall the upturn.

One concern for the Japanese authorities is that the yen's persistent strength, driven by investors' flight to the safety of liquid, low-risk assets, will choke off one vital source of economic growth -- exports.

Such worries spurred plans for a joint government-central bank task force that will monitor and coordinate steps aimed at tackling the yen's strength and helping to cushion its economic impact, according to a draft plan obtained by Reuters.
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