Shinzo Abe, Japan’s prime-minister-in-waiting,
has threatened to revise the law governing the Bank of Japan if it
refuses to introduce a two per cent inflation target at its next policy
meeting in January.
In an appearance on Fuji TV on Sunday, Mr Abe, who is this week set to become Japan’s seventh prime minister in six years, said a new approach was essential to defeating the deflation dogging the economy.
“It has to be different from the traditional methods – the traditional methods have not been able to defeat deflation for more than a decade. That’s no good,” he said.
“If, regrettably, that does not happen, then we will revise the BoJ law and put together an inflation targeting accord [between the government and central bank],” Mr Abe said on Sunday.
www.ft.com/intl/cms/s/0/6395f758-4ce5-11e2-a99b-00144feab49a.htm
In an appearance on Fuji TV on Sunday, Mr Abe, who is this week set to become Japan’s seventh prime minister in six years, said a new approach was essential to defeating the deflation dogging the economy.
“It has to be different from the traditional methods – the traditional methods have not been able to defeat deflation for more than a decade. That’s no good,” he said.
“If, regrettably, that does not happen, then we will revise the BoJ law and put together an inflation targeting accord [between the government and central bank],” Mr Abe said on Sunday.
www.ft.com/intl/cms/s/0/6395f758-4ce5-11e2-a99b-00144feab49a.htm
No comments:
Post a Comment