Koizumi calls for more 'effective' monetary policy

Junichiro Koizumi, Japan's prime minister, on Wednesday called on the Bank of Japan to adopt a more "effective" monetary policy but the central bank ignored his call, leaving its policy unchanged in a unanimous decision.

Mr Koizumi's monetary policy prescriptions came as he draws close to appointing a new head of the central bank, which he said on Wednesday would be announced at the end of February. Masaru Hayami, the incumbent governor, is due to step down from the post in March.

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