Falls in Japan s consumer price index have not slowed as much as forecast, a few Bank of Japan policy board members said at the bank s Feb. 17-18 policy meeting.

* Fed s Bullard: extended period phrase puts Fed in box * Lockhart: Market not getting ahead of self on rate timing

Interest rates on short-term Treasury bills were mixed in Monday s auction with rates on three-month bills declining while rates on six-month bills were unchanged.

The Federal Reserve should not remove the extended period phase on its ultra-low interest rates until it begins to move towards tighter monetary policy, a top Fed official said on Monday.

Problems in commercial real estate are a serious concern, Atlanta Federal Reserve Bank President Dennis Lockhart said on Monday.

Financial markets are betting the Federal Reserve may soon boost the discount rate it charges banks for emergency loans, after raising it by a quarter percentage point to 0.75 percent last month.

President Barack Obama s U.S. economic stimulus plan is increasing average tax refunds to Americans by about $260, a roughly 10 percent rise over the previous year, the White House said on Monday.

Creative fiscal policies have been important tools with which to combat the financial crisis but must not be allowed to become unsustainable, a top European Central Bank policymaker said on Monday.

For details of the U.S. Treasury s offering of 56-day cash management bills this week, please see: 56-day cash management bills: http://www.treasurydirect.gov/instit/annceresult/press/preanre/2010/A_20100322_2.pdf

The Federal Reserve s language regarding maintaining interest rates low for an extended period of time should be changed because it is too restrictive, James Bullard, St. Louis Fed president, told CNBC Monday.