MOF 's Kubo says believes BOJ rate policy unchanged .
TOKYO 1996-08-28
Japan 's Finance Minister Wataru Kubo told a news conference on Wednesday that he believes that the Bank of Japan 's ( BOJ ) interest rate policy which is geared towards ensuring economic growth has not changed after the release of the central bank 's " tankan " survey .
The BOJ released the August tankan , its quarterly short-term corporate survey , in the morning and it showed business outlook had worsened .
However , Kubo said it did not necessarily show a substantial worsening of the economy .
" The question is what the BOJ is going to do with its interest rate policy .
The BOJ governor has made it clear that the BOJ 's policy is aimed at ensuring basis for economic recovery .
I believe this policy has not changed , " he said .
Asked if a supplementary budget for 1996/97 was needed to support the economy , Kubo said the tankan results would not lead to any immediate decision on the need for an extra budget .
" I do n't think we should immediately draw a conclusion that the economic recovery has come to a halt or that signs of a economic contraction have emerged , " Kubo said . "
The economy is not recovering smoothly or at a fast pace . "
Kubo said he would make a decision on the need for a supplementary budget after an announcement in mid-September of Japan 's gross domestic product for the April-June quarter .
" I would like to see how the economy moved in the first half of 1996 , " he said .