BoJ deflects US pressure on bonds

JAPAN - The Bank of Japan yesterday deflected pressure from the US administration to buy foreign bonds to weaken the yen by saying that any such move should be made by the ministry of finance intervening directly in the markets.

The central bank was responding to US officials who said on Wednesday that they were prepared to see the BoJ buy foreign bonds to ease monetary policy, even if that meant a weaker yen.

The US administration said it had been approached privately with the suggestion that