TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Wednesday he sees the central bank’s inflation target as a means to achieve the more important goal of reviving the economy, in a sign that firing up inflation may no longer be a priority for the government.
The premier’s comments followed those from Finance Minister Taro Aso, who warned the Bank of Japan last week against insisting on hitting its price goal.
Abe - BOJ - Percent - Inflation - Target
Abe defended the BOJ for missing its 2 percent inflation target, telling parliament that the government gives a passing grade to its policies for boosting jobs and economic growth.
“The BOJ’s price target is not only a target but a means to revive the economy,” Abe told parliament, adding the priority for many central banks across the globe, including the BOJ, was to spur growth and create more jobs.
Policy - Jobs - End - Deflation - Inflation
“With monetary policy, you can create jobs and put an end to deflation. In doing so, you need an inflation target of 2 percent,” Abe said.
“In achieving our fundamental goal of spurring growth, (the BOJ’s policies) have had a sufficient effect,”...
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