1 November 2001, 11:29 BoJ board members discuss price targeting - Sept 18 minutes
TOKYO (AFX-ASIA) - Members of the monetary policy board of the Bank
of Japan discussed the possibility of setting inflation or price
targets at its meeting on Sept 18, the meeting's minutes show.
"Many views were put forward regarding inflation targeting in the
discussion of the above problems in the overall economy," according to
the minutes.
"Some members shared the view that the key issue was not deciding
whether to set a numerical target for prices but considering what would
be effective policy measures that could be employed to achieve a
target," they said.
One board member said "it was not appropriate to adopt inflation
targeting when the economy was still having structural problems and a
numerical price target should be considered."
Another member member agreed, saying "it would be desirable to
introduce price level targeting rather than inflation targeting."
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