The Bank of Japans deputy governor Yasushi Mieno told a parliamentary Upper House budget committee that the central bank has no monetary measures other than intervention planned to stabilize currency rates. He also said the Bank of Japan is not considering a cut in its 2.5 pct discount rate. Mieno said the central bank is determined to restore currency stability through intervention by the major industrial nations as recent exchange rate volatility stems from speculation. Economic fundamentals have not changed he added.
BANK OF JAPAN DEPUTY SAYS NO NEW MEASURES PLANNED