Japan Abe aide: No need to revise BOJ law if it meets expectations

TOKYO Fri Dec 21, 2012 2:23pm IST

Shinzo Abe, Japan's incoming Prime Minister and the leader of Liberal Democratic Party (LDP), attends a meeting at the LDP headquarters in Tokyo December 21, 2012. REUTERS/Toru Hanai

Shinzo Abe, Japan's incoming Prime Minister and the leader of Liberal Democratic Party (LDP), attends a meeting at the LDP headquarters in Tokyo December 21, 2012.

Credit: Reuters/Toru Hanai

Related Topics

TOKYO (Reuters) - A close aide to Japan's next Prime Minister Shinzo Abe said on Friday that as long as the central bank meets the party's expectations for a 2 percent inflation target and more aggressive monetary easing, there will be no need to revise the Bank of Japan law.

Abe, whose Liberal Democratic Party won Sunday's election by a landslide, has put the central bank's independence on the line by repeatedly calling for a binding 2 percent inflation target, double its current price goal.

"I think there is no need to revise the law if the BOJ takes measures that we have been seeking," Katsunobu Kato, special assistant to Abe, told Reuters in an interview.

On Thursday, the BOJ delivered its third shot of monetary stimulus in four months, in a prelude to more aggressive action next year as it faces intensifying pressure from the country's next leader for bolder action to beat deflation.

(Reporting by Kaori Kaneko and Stanley White; Editing by Edwina Gibbs)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage