Chairman Mitarai's comment at his press conference

July 10, 2006

Following is the gist of remarks made by Chairman Mitarai at his Press Conference. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

(Asked on the BOJ's zero-interest-rate policy)

The BOJ's Policy Board is to judge when and how the current zero-interest-rate policy should be lifted. Statistics on business activities show that the policy change is taking shape now.

(Asked on the missile launches by North Korea)

Japan must make every effort to have draft resolution against North Korea adopted in the UN Security Council. Keidanren will cooperate with the international community when the economic sanctions against North Korea are introduced.

(Asked on recent corporate scandals)

It is a great pity that scandals keep occurring. Keidanren will continue talking the members patiently to do everything not to lose the public trust.

(Asked on the 2006 basic policy for economic and fiscal management and structural reform)

The basic policy is well written on the whole. Strong and adamant commitment to financial reconstruction is shown with concrete figures. Even reforms with pains are definitely mentioned. Discussions on consumption tax rate raise are yet to come, but the idea of using the tax to fund only social security programs is agreeable because it is clear and plain enough to convince the people.


Home Page in English