Govt pressures BoJ to cut rates back to zero

Economics Minister Taro Aso called on the Bank of Japan (BOJ) on Friday March 16 to ease monetary policy to combat deflation and support the struggling economy. The BoJ will decide on interest rate at its forthcoming (March 19) meeting.

"Monetary policy is one tool and the central bank can be very effective, much more than the government, in combating deflation," he told a news conference. "Falling prices are playing a large part in chilling personal consumption." The government on Friday d