Reuters: US Dollar Report: BOJ Shirakawa; Pumping funds alone can't boost growth

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BOJ Shirakawa; Pumping funds alone can't boost growth Mar 27th 2012, 05:24 TOKYO, March 27 | Tue Mar 27, 2012 1:24am EDT TOKYO, March 27 (Reuters) - The Bank of Japan is already pumping a huge amount of funds into markets but its liquidity provision alone cannot bolster the economy, the central bank's governor Masaaki Shirakawa said on Tuesday. "Liquidity provision alone can't lift the economy," Shirakawa told a parliamentary committee, stressing that government and private-sector efforts to nurture new industries and boost Japan's growth potential were also necessary. Shirakawa also warned of the drawbacks of the central bank boosting government bond purchases too much, saying that if such a move was interpreted by markets as debt monetisation, it could trigger a rise in long-term interest rates and hurt the economy.

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