News Headline Summary

Bank of Japan's Sato says BoJ alone cannot achieve inflation target

Says:
- Monetary policy not aimed at specific currency level.
- Cutting rate on excess reserves is an option.
- Cutting rat eon reserves could bring market problems.
- BoJ is stepping into unchartered territory.
- Need to consider pros and cons of cutting reserve rate.
- Seeking negative interest rates may destabilize markets and policy effect of such a step is uncertain.
- May mull offering funds at lower rates if BoJ's market operations and asset buying fail to draw enough bids in future.

06 Feb 2013 - 05:31 - Fixed Income Bank Speaker - Source: Newswires

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