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TOKYO (AP) - It is soley the Bank of Japan's decision when to end its ultra-loose monetary policy, the chief of the central bank said in a news report, apparently seeking to defend the bank's independence amid government pressure to leave policy unchanged to support Japan's nascent economic recovery.
That decision is "100 percent the responsibility of the bank's policy board," Bank of Japan Gov. Toshihiko Fukui said an article published Wednesday in the Mainichi newspaper.
Since March 2001, the central bank has maintained a quantitative easing that targets short-term interest rates near zero and floods the financial system with cash.
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