(MENAFN- Qatar News Agency) Japan's Prime Minister Shinzo Abe said Sunday his government will set a medium-term 2% inflation target with the Bank of Japan in a joint statement expected to be released this month, as part of efforts to shore up the recession-hit economy.
"What will be important is properly including the price goal of 2% ," Abe said in his latest move to pressure the central bank to be more active in helping defeat the country's chronic deflation ahead of its next monetary policy meeting on Jan. 21 and 22, according to Japan's (Kyodo) News Agency.
Abe said the BOJ's current goal of 1% inflation lacks "strong determination" and that the government and central bank will come up with "a definite goal and write that it will be 2%."
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.