BOJ cautious about joining currency pact<\/p>\n
TOKYO (Reuter): The Bank of Japan (BOJ) is cautious about
\njoining a pact to maintain stability of Asian currencies, a
\nsenior BOJ official said yesterday.<\/p>\n
\"For the moment, we are cautious about participating in the
\nagreement,\" the official told Reuters.<\/p>\n
Last week, five Asian central banks signed a pact to maintain
\nstability in Asian currencies and in the region's banking system.
\nThe Mexican peso crisis rattled some Asian currencies earlier
\nthis year.<\/p>\n
The agreements were signed by Australia, Hong Kong, Indonesia,
\nMalaysia and Thailand.<\/p>\n
Japan has been working with other nations through summit
\nmeetings and meetings of the Group of Seven (G-7) to cope with
\nMexican-style crises, the BOJ official said.<\/p>\n
\"However, it's a bit premature to enter into the Asian
\nregional pact,\" he said.<\/p>\n
The agreement came this week at a meeting of officials from 10
\nof the region's central banks. The five signed bilateral
\nagreements allowing them to borrow from each other to bolster
\ntheir reserves in times of crisis.<\/p>\n
The BOJ official said the bank would like to actively
\ncooperate within the region on such things as exchanges of
\ninformation and opinions.<\/p>\n
\"If we get another invitation by the Asian nations (to join
\ntheir meetings), we are willing to attend,\" he said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/boj-cautious-about-joining-currency-pact-1447893297",
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