Announcement of the Monetary Policy Meeting Decisions (May 18)

May 18, 2001
Bank of Japan

(For immediate release)

At the Monetary Policy Meeting held today, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the inter-meeting period:

The Bank of Japan will conduct money market operations, aiming the outstanding balance of the current accounts at the Bank at around 5 trillion yen.

Should there be a risk of financial market instability, e.g., a rapid surge in liquidity demand, the Bank will provide ampler liquidity irrespective of the guideline above.

(Reference)

Meeting hours :
May 17th : 2:00 p.m. to 3:41 p.m.May 18th : 9:00 a.m. to 12:18 p.m.

Members present :
Masaru Hayami (Governor)
Sakuya Fujiwara (Deputy Governor)
Yutaka Yamaguchi (Deputy Governor)
Susumu Taketomi
Toshio Miki
Nobuyuki Nakahara
Kazuo Ueda
Teizo Taya
Miyako Suda

(Others present)

May 17th:From Ministry of Finance:
Yoshio Tamura, Deputy Vice Minister for Policy Planning and Co-ordination
(from 2:00 p.m.)

From Cabinet Office:
Takashige Komoda, Deputy Director General for Economic and Fiscal Management
(from 2:00 p.m.)

May 18th:From Ministry of Finance:
Yoshio Tamura, Deputy Vice Minister for Policy Planning and Co-ordination
(from 9:00 a.m.)

From Cabinet Office:
Yuzo Kobayashi, Director General for Economic and Fiscal Management
(from 9:00 a.m.)

Release of Monthly Report of Recent Economic and Financial Developments:
(Consisting of "The Bank's View" and "The Background")
Japanese version of the entire report and English version of "The Bank's View"
2:00 p.m. on Monday, May 21, 2001
English version of "The Background"
With in a few business days from the release of"The Bank's View"

Release of minutes :
2:00 p.m. on Wednesday, June 20, 2001