BOJ Minutes: All Agreed Japan Econ Had Stopped Worsening

Discussion in 'Economics' started by ASusilovic, Jul 20, 2009.

  1. TOKYO (Dow Jones)-- Bank of Japan board members agreed at their June 15-16 policy board meeting that economic conditions in Japan had stopped worsening, and that evidence of the economy's stability would be seen in coming months, minutes released by the central bank Tuesday showed.

    Opinions differed, however, over the bank's temporary corporate funding measures, with one member saying that "corporate financing taken as a whole was becoming less tight, and the bank should therefore start considering specific ways to terminate the temporary and exceptional measures."

    The BOJ upgraded its economic assessment at the June meeting for the second straight month, saying that "economic conditions, after deteriorating significantly, have begun to stop worsening."

    But market attention ahead of the June meeting was focused on the bank's attitude toward the temporary measures it had enacted in previous months to support corporate financing, with opinions diverging on when the board would terminate the measures.

    The board took no decision on the timetable at its June meeting. But last week, at its July meeting, it voted to extend measures such as the purchase of corporate bonds and commercial paper to Dec. 31 from Sept. 30 because of ongoing turmoil in Japan's economy and markets.

    http://www.nni.nikkei.co.jp/e/fr/tnks/Nni20090721D21JF665.htm
     
  2. i think japan is in the best position out of all of the major economies for recovery because it has good manufacturing and a willing labour force. there are other advantages too, with the technological advantages they have and their willingness to invest in r and d.