TOKYO Dec 3 Bank of Japan Governor Masaaki
Shirakawa stressed that the central bank is committed to
loosening monetary policy aggressively on condition there is no
substantial risk to sustainable economic growth such as a
buildup of imbalances.
"In order to deliver sustainable economic growth under price
stability, central banks must have a very long time horizon,"
Shirakawa said at a seminar in Tokyo on Monday.
He also said that central banks must not look to markets for
guidance about what they should do, suggesting that the BOJ will
not act just because market expectations of imminent monetary
"While central banks should have deep respect for financial
markets ... they should be willing to stand up to the market
from time to time," he said.