BoJ's Fukui on the conduct of monetary policy
A sharp decline in real interest rates ``could cause a swing in economic activity, eroding efforts to achieve sustainable economic growth in the long term,'' he said.
He said the central bank's policy makers don't think such risks are strong for the moment and it's highly probable interest rates can be maintained at very low levels.
Japan's economy was becoming more resilient to outside ``shocks,'' Fukui said in the speech, adding that he expects a recovery among households and consumer prices are improving.
Summary of a speech given by Toshihiko Fukui, Governor of the Bank of Japan, to the Japan Chamber of Commerce and Industry in Tokyo on March 16, 2006.
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