BOJ mulls ending monetary ease<\/p>\n
TOKYO: The Bank of Japan's policy board discussed setting
\nspecific conditions for terminating its quantitative easing
\nmeasures at its June 25 meeting, according to minutes released on
\nFriday, the Nihon Keizai Shimbun reports in its Saturday morning
\nedition.<\/p>\n
Long-term interest rates had surged above 1.9 percent to hit
\ntheir highest level in more than three years immediately before
\nthe meeting, making it urgent to allay speculation that the BOJ
\nwould do away with its quantitative easing policy soon.<\/p>\n
At the meeting, a board member proposed making the conditions
\nfor ending the bank's easing policy - several months of year-on-
\nyear increases in the consumer price index - easier to
\nunderstand. Setting a higher target figure should be considered,
\nthis member said. Another member supported this view.<\/p>\n
But this proposal was met with opposition. The possibility
\nthat the BOJ would lose policy management flexibility is too
\ngreat, one member said. Another argued that setting such a target
\ncould cause volatility in the market and might undermine trust in
\nthe bank's policy-making.In the end, the board didn't agree to
\nset such specific conditions.--DJ<\/p>",
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