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MNI BRIEF: BOJ Stands Ready If U.S. Defaults - Ueda

(MNI) Tokyo

Bank of Japan Governor Kazuo Ueda told lawmakers Friday that the central bank will take policy action in a flexible manner to maintain the stability of financial markets amid a potential U.S. debt default.

He reassured parliament a potential US Treasury default would not impact the BOJ's ability to provide liquidity to the country's financial institutions.

However, Ueda warned any default would present problems, injecting confusion into financial markets and affecting various financial transactions thanks to the wide use of U.S. Treasuries as collateral for financial transactions.

MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

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