MOSCOW Feb 15 Bank of Japan Governor Masaaki
Shirakawa will at Group of 20 finance talks defend Tokyo's bold
approach to monetary easing, saying the policies were aimed at
stabilising the domestic economy.
"The BOJ has taken a step towards bold monetary easing and
we'll explain that," Shirakawa told reporters in Moscow before
G20 finance ministers and central bankers meet later on Friday.
"We are conducting monetary policy focusing on the stability
of our domestic economy by escaping deflation and achieving
sustainable growth under price stability," said Shirakawa, who
is attending his last G20 before stepping down.
"I believe each country's policies aimed at stabilizing
their own economies will lead to stability of global economy on
Shirakawa also said the yen's weakness on currency markets
reflected receding risk aversion among investors.
"The global economy is showing some bright signs Tail
risks from Europe are largely receding and the United States has
avoided falling off the 'fiscal cliff'," Shirakawa told
"The biggest factor behind the yen's weakening lies in
receding risk aversion among investors Demand for the
safe-haven yen has declined and that has caused the yen to
"If currencies are discussed at G20 which involves emerging
economies, we would explain the thinking behind the G7 joint