Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Japan Likely To Set 2 Percent Inflation Goal

TOKYO (UPI) — The new Japanese Cabinet and the Bank of Japan appeared closer Monday to setting a 2 percent inflation target to lift Japan’s out of its persistent deflation.

Akira Amari, economic and fiscal policy minister in the Cabinet of Prime Minister Shinzo Abe, said the government and the country’s central bank were near an agreement to include the doubling of the inflation target in their policy coordination efforts, expected to be released after the bank’s policy meeting Monday and Tuesday, Kyodo News reported.

Speaking on NHK television channel, Amari said the agreement will likely be a joint declaration or joint statement, the report said.

“The government and the BOJ will be able to share things that they have not been able to until now,” Amari said.

Abe, who returned as prime minister after his Liberal Democratic Party won a landslide victory in parliamentary elections in December, has made it his main task to end the chronic decade-long deflation that has again pushed Japan’s economy into a mild recession. Japan’s economy, the third-largest in the world after that of the United States and China, also has been hit by falling exports and weak domestic demand since the devastating earthquake and tsunami in March 2011.

One analyst told Kyodo the central bank should immediately take such steps to help Abe accomplish his anti-deflationary goal before the planned sales tax hikes begin to take effect next year.

The concern among some experts is that monetary easing such as raising the inflation target could push food and energy costs higher for the common people.

The Yomiuri Shimbun, quoting sources, reported after setting a clear inflation target, the BOJ will go ahead with monetary easing while the Abe government looks for ways to raise economic growth.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Japan Likely To Set 2 Percent Inflation Goal”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.