Forex News Update:
Bank of Japan Governor Masaaki Shirakawa said Monday that the central bank will take policy steps based on careful analysis of both upside and downside risks on the economy.
"While risks are increasing globally in a direction toward inflation, including soaring international commodity prices, it is still necessary to be careful on uncertainty over overseas economies and international financial markets and impacts of high energy and material prices," Shirakawa said at opening of the central bank's quarterly branch managers' meeting.
At the meeting, managers from 32 domestic branches and the two general managers in the U.S. and Europe gathered to discuss economic and financial conditions.
The outcome of the meeting normally doesn't strongly affect the BOJ's monetary policy.
The central bank will release its regional economic report complied by the local branch managers at 0530 GMT, and the BOJ's Osaka branch head will meet the press at 0615 GMT.
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