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

Iron Ore Mining

REUTERS SHOWCASE

Tracking Markets

Tracking Markets

Sensex, Nifty surge to record high; Sesa gains  Full Article 

TCS-Mitsubishi

TCS-Mitsubishi

TCS, Mitsubishi to form software services company  Full Article 

Telecom Sector

Telecom Sector

RIL telecoms unit in tower lease pact with ATC  Full Article 

Japanese Economy

Japanese Economy

Japan exports growth slows sharply, keeps pressure on BOJ to act  Full Article 

A Tough Sell

A Tough Sell

Insurance against a China financial crisis  Full Article 

Tyre Debris

Tyre Debris

Bangalore-bound Malaysia Airlines plane turns back after tyre burst on takeoff  Full Article 

Digital Currency

Digital Currency

At Mt. Gox bitcoin hub, 'geek' CEO sought both control and escape  Full Article 

Reuters India Mobile

Reuters India Mobile

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