BoJ's Fukui says board split 7-2 on target cut

Bank of Japan governor Toshihiko Fukui said Friday 20 May that the BoJ's policy board vote was spilt 7-2 on maintaining the liquidity target at 30-35 trln yen. "Two members thought the target ought to be lowered," Fukui told a press conference.

The board agreed to begin allowing liquidity to fall below 30 trln yen. The BoJ chief described this decision as a technical move, and not as a credit tightening representing a change in the central bank's ultra-loose credit policy. "Given the receding

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