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BOJ's Shirakawa:Fiscal balance needed for steady rates

Wed Jun 3, 2009 10:06pm EDT

(For more stories on the Japanese economy, click [ID:nECONJP])

Global Markets  |  Japan

TOKYO, June 4 (Reuters) - Bank of Japan (BOJ) Governor Masaaki Shirakawa said on Thursday it was important to maintain fiscal balance in the long term to keep long-term interest rates steady.

The Bank of Japan's buying of Japanese government bonds is not aimed at helping Japan's public finance but to smooth its money market operations, Shirakawa also said in the upper house of parliament, repeating the bank's mantra about its JGB buying. (Reporting by Hideyuki Sano)

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