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BOJ Says Japan Economy to Keep Growing
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maxsyn
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21-Nov-2006 16:25
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Nov. 21 (Bloomberg) -- The Bank of Japan reiterated plans to raise interest rates ``gradually,'' keeping pace with inflation and growth in the world's second-largest economy, minutes of a policy board meeting held last month show. Members of the policy board ``agreed that the economy was likely to continue to expand moderately,'' according to the minutes of the Oct. 12-13 board meeting released today in Tokyo. The bank will raise the key rate, the lowest among major countries, as long as the economy and prices meet its forecast. Board members said the bank must communicate with investors closely to explain its stance on economic conditions as they sometimes interpret data differently. A majority of economists expect the central bank to raise interest rates next quarter to prevent excessive business investment and asset bubbles. ``The Bank of Japan wants to raise rates with the smallest possible gap between their economic view and the market's view,'' said Hiroshi Shiraishi, an economist at Lehman Brothers Japan Inc. ``They're aware that their view is currently too different.'' |
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