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Japanese Prime Minister Naoto Kan and Bank of Japan governor Masaaki Shirakawa spoke over the phone on Monday, about the currency and the economy. Japan's Chief Cabinet Secretary Yoshito Sengoku says both sides agreed to work closely.
Markets have been rift with speculation the central bank may try to preempt government pressure for action, and further loosen its already ultra-loose policy. But the BOJ is unlikely to act before its next regular policy meeting on September 6 to 7th, unless the yen heads towards its all-time high.
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