Fukui says reserve level reduction nearly complete

Bank of Japan governor Toshihiko Fukui said Thursday 15 June that the reduction in the level of banks' current account reserves at the BOJ is nearly complete.

"The reduction in the current account balance has nothing to do with the end of the zero call rate policy," Fukui told a regular press briefing at the end of the BoJ's two-day policy meeting.

"When to scrap the zero call rate policy now purely depends on economic and price developments," he said.

"But with regard to the question of when to