10 July 2001, 12:13 Japan's Takenaka - No plan to propose inflation targeting at BoJ meeting
TOKYO (AFX-ASIA) - State Minister for Economic and Fiscal Policy
Heizo Takenaka said he has no plan to propose inflation-targeting at
the next policy board meeting of the Bank of Japan, which begins
Thursday.
Speaking at a regular press conference, Takenaka said he plans to
attend the two-day meeting again, marking his third straight
attendance.
"I would to like to hear the opinions of board members and
participate in discussions," he said.
The state minister also said he plans to report to the board how
Japan's structural reforms were evaluated by Asian countries which he
recently visited.
However, he said he "has no plan to make any concrete proposal such
as inflation-targeting" at the BoJ's policy board meeting, but added
that he will urge board members to study real interest-rate theory.
Turning to the possibility of implementing a supplementary budget,
Takenaka said the government will determine the need for such a budget
in autumn after reviewing economic indicators such as Tankan and GDP.
He said the recent economic data endorsed the Cabinet Office's view
that the economy is deteriorating, but declined to directly comment
whether the agency will downgrade the economic assessment in the July
report, which will be published tomorrow.
© 1999-2024 Forex EuroClub
All rights reserved