(BOJ) Announcement of the Monetary Policy Meeting Decisions

March 7, 2008

Bank of Japan

At the Monetary Policy Meeting held today, the Bank of Japan decided, by a unanimous vote,[Note] to set the following guideline for money market operations for the intermeeting period: The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around 0.5 percent.

[Note] Voting for the action: Mr. T. Fukui, Mr. T. Muto, Mr. K. Iwata, Ms. M. Suda, Mr. A. Mizuno, Mr. K. G. Nishimura, Mr. T. Noda, Mr. S. Nakamura, and Mr. H. Kamezaki.

Voting against the action: None.

(Reference)

Meeting hours:

March 6: 14:00-16:27

March 7: 9:01-12:48

Policy Board members present:

Toshihiko Fukui (Governor)

Toshiro Muto (Deputy Governor)

Kazumasa Iwata (Deputy Governor)

Miyako Suda

Atsushi Mizuno

Kiyohiko G. Nishimura

Tadao Noda

Seiji Nakamura

Hidetoshi Kamezaki

(Others present)

March 6

From the Ministry of Finance:

Masaki Suzuki, Deputy Vice Minister for Policy Planning and Co-ordination

(14:00-16:27)

From the Cabinet Office:

Jun Hamano, Vice-Minister for Policy Coordination (14:00-16:27)

March 7

From the Ministry of Finance:

Hiroshi Moriyama, Senior Vice Minister of Finance

(9:01-12:20,12:25-12:48)

From the Cabinet Office:

Jun Hamano, Vice-Minister for Policy Coordination

(9:01-12:20,12:25-12:48)

Release of the Monthly Report of Recent Economic and Financial Developments:

(Consisting of "The Bank's View" and "The Background")

"The Bank's View"

3:00 p.m. on Friday, March 7

Full text (Consisting of "The Bank's View" and "The Background")

2:00 p.m. on Monday, March 10 (Japanese)

4:30 p.m. on Tuesday, March 11 (English)

Release of the minutes:

8:50 a.m. on Monday, April 14