BOJ Shirakawa: govt printing money would harm yen

Tue Feb 3, 2009 1:14am EST

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TOKYO Feb 3 (Reuters) - Bank of Japan (BOJ) Governor Masaaki Shirakawa said on Tuesday the credibility of the yen could be harmed and long-term interest rates could rise if the government began to print money.

Such a step could prevent the Bank of Japan making swift adjustments to the financial system and harm Japan's fiscal health, Shirakawa told a news conference.

The idea of the government issuing its own paper notes has been floated by a few ruling party lawmakers including a former internal affairs minister. [ID:nT304071] (Reporting by Hideyuki Sano and Tetsushi Kajimoto)

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