TOKYO, Dec 19 (Reuters) - Bank of Japan Governor Masaaki Shirakawa said on Friday that the bank's decision to cut interest rates and buy more assets did not mark a return to a quantitative easing policy.
"No one on the BOJ board seems to think that boosting base money would stimulate the economy," Shirakawa told a news conference.
He also said Friday's decision to increase outright purchases of Japanese government bonds was not directly aimed at lowering long-term interest rates.
The Bank of Japan cut its key policy rate to 0.10 percent and moved to pump funds into the market to ease a corporate credit crunch as the yen's sharp rise and crumbling demand batter the economy. (Reporting by Leika Kihara and Hideyuki Sano)