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Bank of Japan Governor Masaaki Shirakawa said on Friday that the central bank is ready to take swift, bold action if financial markets become unstable again.
"As I always stress, the bank is prepared to act swiftly and decisively should concerns that financial market stability might be hampered reemerge," Shirakawa told a business conference in Tokyo. He reiterated that it is necessary to maintain the extremely accommodative financial environment.
The Bank of Japan's Policy Board voted on Tuesday to maintain the key interest rate at 0.10% as the economy remains mired in deflation.
Shirakawa's comments come after official data showed that consumer prices fell for the tenth straight month. The central bank has already pledged to tackle deflation, vowing that it "would not tolerate" consumer prices at, or below, zero.
The governor also said the central bank's monthly JPY 1.8 trillion bond purchases are approriate given the current state of the economy.
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