In conducting outright purchases of credit-market instruments to facilitate corporate financing, it is important to strike a balance, said Tadao Noda, a member of the central bank's rate-setting board has said.

Noda said that it was important to strike a balance between using such purchases to facilitate corporate financing to the fullest extent possible while at the same time aiming to restore the functioning of markets. He said that if the intervention was excessive, central banks' purchases of