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Shiozaki: BOJ will make appropriate decision on interest rates

Sepiola

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Chief Cabinet Secretary Yasuhisa Shiozaki says he expects Japan's central bank will make an appropriate decision on whether to raise key interest rates.

Mr Shiozaki told reporters on Monday that he believes the Bank of Japan's decision will fall in line with the government's policies, and will contribute to healthy economic growth.

The Bank of Japan is set to consider raising interest rates during a two-day meeting of its policymakers that begins on Wednesday. The central bank is becoming more confident that the Japanese economy will continue its moderate expansion through fiscal 2007.

The central bank is forecasting that the US economy will not decline, contrary to the widespread view that a further slowdown is likely.

Mr Shiozaki also referred to a remark by the Secretary General of the ruling Liberal Democratic Party, Hidenao Nakagawa, that the government should exercise its right to call for a postponement of the vote at the bank meeting if an additional interest rate hike is proposed.

Mr Shiozaki said he believes Mr Nakagawa's comment was based on his own political judgment, so he will refrain from giving an opinion on the remark.
 
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