No change to BOJ rates

Sat, 19 May 2001 | Source: AFP

TOKYO (AFP): The Bank of Japan said at the end of a two-day board meeting Friday that it was keeping monetary policy unchanged.

"The Bank of Japan will conduct money market operations, aiming the outstanding balance of the current accounts at the Bank at around five trillion yen (US$40.65 billion)," a central bank statement said.

"Should there be a risk of financial market instability, eg a rapid surge in liquidity demand, the Bank will provide ampler liquidity irrespective of the guideline above," the statement said in unchanged wording from last month.

The Bank of Japan staged a U-turn in March when it effectively returned to zero interest rates to help prop up the sagging economy.

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