Announcement of the Monetary Policy Meeting Decisions

The Limitations of P/E and PBV Ratios and Why InvestingPro's Fair Value Matters

By Bank of JapanOct 31, 2007 20:58

At the Monetary Policy Meeting held today, the Bank of Japan decided, by an 8-1 majority vote,[Note] to set the following guideline for money market operations for the intermeeting period:

The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around 0.5 percent.

[Note] Voting for the action: Mr. T. Fukui, Mr. T. Muto, Mr. K. Iwata, Ms. M. Suda, Mr. K. G.
Nishimura, Mr. T. Noda, Mr. S. Nakamura, and Mr. H. Kamezaki.

Voting against the action: Mr. A. Mizuno.

(Reference)

Meeting hours:

    October 31: 9:00-12:38

Policy Board members present:

    Toshihiko Fukui (Governor)
    Toshiro Muto (Deputy Governor)
    Kazumasa Iwata (Deputy Governor)
    Miyako Suda
    Atsushi Mizuno
    Kiyohiko G. Nishimura
    Tadao Noda
    Seiji Nakamura
    Hidetoshi Kamezaki

(Others present)

From the Ministry of Finance:

    Hiroshi Moriyama, Senior Vice Minister of Finance
    (9:00-12:23,12:27-12:38)

From the Cabinet Office:

    Jun Hamano, Vice-Minister for Policy Coordination
    (9:00-12:23,12:27-12:38)

Release of the minutes:

    8:50 a.m. on Wednesday, December 26

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