2 November 2001, 13:13 Hayami remains reluctant to set inflation target
TOKYO, Nov. 2 (Kyodo) - Bank of Japan Governor Masaru Hayami on
Friday reiterated his reluctance over setting an inflation target
at the present time as a measure to fend off deflation.
"There's no past case (of setting an inflation target) amid
deflation...It is instead for preventing inflation," Hayami told
reporters as he emerged from a meeting of the Council on Economic
and Fiscal Policy headed by Prime Minister Junichiro Koizumi.
Hayami said the issue of inflation targeting came up at the
meeting of the key government panel.
His comments came after a ruling Liberal Democratic Party
working group earlier Friday endorsed a proposed amendment to the
Bank of Japan Law that includes a provision to set an inflation
target.
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