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BOJ: Many Said Need To Inform Markets No Change In Easy Stance

TOKYO -(Dow Jones)- Bank of Japan policy board members said the central bank needs to "patiently" keep the current extremely accommodative conditions in place, while the board had already been leaning toward ending temporary funding measures by early October, the minutes of an October policy board meeting released by the central bank showed Thursday.

"Many members said that, regardless of the manner of dealing with temporary measures, it was most important that the central bank clearly explain its basic policy stance of steadily implementing measures to maintain the accommodative financial environment," the summary of the Oct. 13-14 meeting showed.

The BOJ, at that meeting, kept interest rates unchanged at 0.1%, and contrary to expectations, made no mention of whether it would end emergency fund provision measures at the end of December, as planned.

But, at a second meeting for the month, Oct. 30, the policy board voted to scrap outright buying of commercial paper and corporate bonds Dec. 31, as scheduled. It also voted to end a special lending facility to provide three- month funds at 0.1% at the end of March.

-By Megumi Fujikawa, Dow Jones Newswires; 813-6895-7559; megumi.fujikawa@ dowjones.com

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  11-04-091929ET
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