BOJ reluctant to ease monetary policy

Bank of Japan Governor Masaru Hayami signalled reluctance to loosen monetary policy, doubting that it would have any effect.

At a press conference on Wednesday Hayami said: "Further easing is unlikely to have any real economic impact until fund demand in the private sector starts increasing" and banks clean up their bad loans, Hayami told a regular news conference.

Hayami noted weak demand is putting added pressure on prices but emphasized the central bank "stands ready to do its utmost" to fig

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