TOKYO (MNI) – Finance Minister Koriki Jojima on Tuesday denied a
local press report that said the government is asking the Bank of Japan
to boost its asset buying program by Y20 trillion to Y100 trillion.
Asked about the report, Jojima told reporters, “That is not true.”
“The government and the BOJ agree that overcoming deflation is an
important policy issue. I expect the BOJ to continue decisive monetary
easing by keeping in close contact with the government,” he said.
At its Oct. 30 meeting, the BOJ board will discuss whether the bank
must raise the target of its financial asset buying now for the fourth
time this year as the global slowdown and waning effects of fiscal
spending dampen the prospects of a recovery to 1% inflation.
At the last meeting on Oct. 4 to 5, the board stood pat as it had
already conducted pre-emptive easing two weeks earlier by raising the
target for its financial asset buying by 10 trillion to Y80 trillion.
tokyo@marketnews.com
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