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Friday, March 19, 2010
BOJ Statistics Chief: Need To Earn Market Trust On Fiscal Policy
By Megumi Fujikawa
Dow Jones Newswires
TOKYO -(Dow Jones)- The Bank of Japan's head of research and statistics suggested Friday the government needs to show the market that it is sincere in its effort not to significantly increase government bond issuance amid oversupply concerns.
"To achieve smooth sales of government bonds, it is important to earn the market's and the people's trust in (the government's) medium- and long-term fiscal policy that the outstanding amount of government debt won't increase recklessly," Kazuo Monma said at a session of the Upper House fiscal and financial affairs committee.
Japan's outstanding government bonds and borrowing stood at a record Y871.510 trillion at the end of December 2009. That is expected to climb further in the year starting April, when the government plans Y44.303 trillion of new bond sales, the highest amount ever.
Copyright © 2009 Dow Jones Newswires
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