BoJ vows tighter rules amid leaked re­ports

The Pak Banker - - COMPANIES/BOSS -

TOKYO: Ja­pan's cen­tral bank said Wed­nes­day it would toughen mea­sures to pre­vent leaks to the me­dia, but found no ev­i­dence to sup­port claims a ma­jor news­pa­per was fed early de­tails about its lat­est stim­u­lus plan. The Bank of Ja­pan said it would limit the use of smart­phones and other hi-tech gad­gets at its head­quar­ters and re­strict re­porters' move­ments ahead of pol­icy an­nounce­ments. The BoJ launched an in­ves­ti­ga­tion ear­lier this month af­ter Ja­pan's lead­ing Nikkei busi­ness said the bank was mulling a neg­a­tive in­ter­est rate pol­icy just be­fore it made the for­mal an­nounce­ment. The story was pub­lished on­line sev­eral min­utes be­fore the BoJ shocked mar­kets with the fresh stim­u­lus af­ter a closed-door meet­ing. The bank's meet­ings are con­sid­ered top se­cret, with me­dia wait­ing in a closed room with no out­side com­mu­ni­ca­tion un­til the board re­leases its pol­icy de­ci­sion. Only pol­i­cy­mak­ers and sev­eral govern­ment of­fi­cials were in at­ten­dance and the Nikkei re­port im­me­di­ately sparked sus­pi­cion that the in­for­ma­tion had been sup­plied from some­one at the meet­ing. The bank said it re­viewed se­cu­rity cam­era footage and spoke with em­ploy­ees, ex­ec­u­tives and the govern­ment of­fi­cials. But "the bank could not find any­thing to point to a leak", it said in a state­ment. It was not im­me­di­ately clear if mar­ket reg­u­la­tors were also look­ing into the ap­par­ent ir­reg­u­lar­ity. The stim­u­lus news im­me­di­ately sparked a re­ac­tion on mar­kets, send­ing the yen into a steep dive and spark­ing a huge stock rally as in­vestors cheered the BoJ's new­est

weapon in its bid to kick-start the world's num­ber three econ­omy.

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