Japan's economic and financial conditions will likely continue to be severe, Bank of Japan Deputy Governor Hirohide Yamaguchi said Wednesday.

Addressing business leaders in Otaru, Yamaguchi said at this point, the central bank is giving higher priority for securing market stability and facilitating corporate financing, which are the second and third main areas of the BoJ's conduct of monetary policy.

He said the BoJ will continue to examine carefully developments in financial markets and corporate financing adding that the bank will take necessary measures in a decisive manner without any predetermined view.

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