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BOJ's Shirakawa: Need caution on downside risks

Reuters - Monday, May 12

TOKYO, May 12 - Bank of Japan Governor Masaaki Shirakawa said on Monday that the central bank must pay close attention to the risks facing the economy.

He also said in a speech in Tokyo that while the BOJ would raise interest rates if uncertainties over the economy cleared, it would be appropriate to keep rates on hold -- or even cut them -- if the economy were hurt by rising energy prices.

"We are now at the stage where we need to pay utmost attention to the downside risks to the economy," Shirakawa said.

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