Japan PM: Will pursue bold monetary policy, big fiscal spending

TOKYO Mon Jan 7, 2013 9:22am IST

Japan's new Prime Minister Shinzo Abe attends a news conference at his official residence in Tokyo December 26, 2012. REUTERS/Toru Hanai

Japan's new Prime Minister Shinzo Abe attends a news conference at his official residence in Tokyo December 26, 2012.

Credit: Reuters/Toru Hanai

Related Topics

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe reiterated on Monday his call for bold monetary easing by the central bank, big fiscal spending and an economic growth strategy as steps towards conquering deflation.

"Above all, the urgent task is to beat deflation," Abe told a meeting of officials from the government and ruling parties.

"A bold monetary policy, a flexible fiscal policy and a growth strategy are aimed at stimulating private investment. With these three pillars, we must aim to beat deflation."

Abe also said the government would do its utmost to quickly enact an extra budget for the current fiscal year and a budget for the next fiscal year to shore up the economy.

(Reporting by Tetsushi Kajimoto; Writing by Kaori Kaneko; Editing by Chris Gallagher)

FILED UNDER:
  • Most Popular
  • Most Shared

Insight

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

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