Japan's MOF may yield to BOJ on reserves

Japan's Ministry of Finance is expected to approve the Bank of Japan's plans to build up its reserves beyond the amount legally required, the Nihon Keizai Shimbun reported.

The move would occur in the hope that it will give the central bank an incentive to maintain its super-loose credit policy longer than it otherwise might, the report said.

The business daily said the BoJ yesterday sought MOF approval to earmark 10 pct of its 194 bln yen in fiscal 2004 surplus funds for its legal reserves, tw

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