Bank of Japan Gov. Masaru Hayami is likely to urge the central bank's Policy Board to terminate the nearly 18-month-old "zero-interest-rate" policy at its policy-setting meeting today, monetary sources said Thursday.
Meanwhile, a top Finance Ministry official indicated Thursday that the government may request that the BOJ's Policy Board postpone a vote over ending the controversial zero-rate policy, depending on how the discussion at the BOJ meeting progresses.
Toshiro Muto, vice finance minister, said Finance Minister Kiichi Miyazawa and Taichi Sakaiya, head of the Economic Planning Agency, will confer and give final approval to a government decision if a motion to raise rates is submitted at the meeting.