BOJ’s Ishida: Need to guard against downside risks to Japan economy

• Japan economy to move in line with BOJ’s forecast unless big negative event in Europe
• Must take monetary policy steps that minimise adverse effect on markets in case Europe-driven hits Japan
• Any Europe-driven shock will hit Japan via trade, markets
• BOJ dollar fund ops on Tuesday likely drew test bids
• Lower pricing under BOJ’s dollar funding operation to serve as backstop

Reuters reporting.