BANK OF JAPAN CALLS FOR LONG-TERM EFFORTS ON TRADE

  The short-term effect of foreign exchange
  rate movements in correcting international trade imbalances
  appears to be waning, and long-term efforts are required to cut
  Japan's chronic dependence on external demand, the Bank of
  Japan said in a monthly report.
      Japan's trade surplus in nominal terms is likely to remain
  high in the near future, the central bank said.
      Fundamental adjustments will be needed as long as Japan
  hopes to benefit from a better international allocation of
  resources and maintain the free trade system, it added.
  

