TOKYO (AFX-ASIA) - State Minister for Economic and Fiscal Policy Taro Aso said he believes Japan can achieve the government target for GDP growth of 1.2 pct for the current fiscal year.
"I expect January-March GDP growth to be flat after the negative growth in October-December, but I expect we can meet the government target of 1.2 pct," Aso said.
He said the Bank of Japan's decision to cut the discount rate on Friday, among other technical money-market measures, will not have an immediate impact on the overall economy.
However, he added: "It is clear than Japan's firms will not have trouble gaining access to capital."
Aso said the government plans a further meeting of its economic advisory committee, which helps to coordinate overall government economic policy, but added that this is not in response to the BoJ's move. "We just think it is best to proceed with our talks," he said.