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BOJ's Mizuno doubts effectiveness of a rate cut

Wed Feb 27, 2008 9:30pm EST

OITA, Japan, Feb 28 (Reuters) - Bank of Japan board member Atsushi Mizuno on Thursday expressed doubts about the effect that any interest rate cut might have in supporting the Japanese economy, which he said was at a standstill.

Mizuno added that he thought monetary conditions were already sufficiently accommodative.

"Even if we cut rates, the effectiveness of that in providing additional support to the economy is uncertain," Mizuno said in a speech to local business leaders in Oita, southern Japan.

Mizuno, regarded as the most hawkish member of the BOJ's nine-member policy board, dropped his call for a rate hike in December and has been voting to keep rates steady since then. (Reporting by Yoko Nishikawa; Editing by Hugh Lawson)



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