Oct 8 (Reuters) - The Bank of Japan, which did not join coordinated easing undertaken by the world's major central banks on Wednesday, said it strongly supported the latest move. Following is a text of the BOJ's statement on the coordinated rate cut: The Bank of Japan welcomes the policy decisions made by six central banks and hopes that these actions will contribute to securing the stability of both the financial systems and economies of these countries. In Japan, policy interest rates are very low and the monetary conditions remain accommodative. On top of that, the Bank has engaged itself in decisive actions of liquidity supply, ranging from the uninterrupted provision of ample yen liquidity in the market to the introduction of US dollar liquidity operations. Against this background, Japan's financial market has been stable in comparison with those in other industrialized countries. It is of utmost importance for every central bank to maintain stability of financial markets amidst the ongoing financial turmoil. The Bank of Japan will continue to do its best to secure the stability of financial markets through money market operations while staying in close cooperation with other central banks. From this perspective, Governor of the Bank of Japan has instructed its staff to swiftly examine possible ways to further enhance the effectiveness of monetary operations, including those pertaining to BOJ reserve system. (Reporting by Tokyo Economic Policy Desk)

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