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:
  • Most Popular
  • Most Shared

DEFENCE

REUTERS SHOWCASE

Canonisation

Canonisation

Pope declares sainthood of two Indians, four Italians.  Full Article 

Stake Sale Strike

Stake Sale Strike

Coal India trade unions call off strike in victory for Modi.  Full Article 

Arms Purchase

Arms Purchase

India approves $2.6 bln mounted gun purchase - official.  Full Article 

Interview with Bulgari CEO

Interview: Bulgari CEO

Bulgari CEO: we shouldn’t have left India so we’re back  Full Article 

Formula One

Formula One

Hamilton takes second F1 title in style.  Full Article 

Available For Remake

Available For Remake

Bollywood finally wants to pay the price for remakes  Full Article 

Davis Cup

Davis Cup

Vintage Federer seals first Davis Cup for Switzerland.  Full Article 

Movie Review

Movie Review

"Happy Ending" is old wine in an older bottle  Full Article 

Reuters India Mobile

Reuters India Mobile

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