Japan’s LDP leader Abe: BOJ has independence from government on goal setting, unlike other CB’s which set goals with governments

  • BOJ should be responsible for price stability and job growth
  • Bold monetary easing steps from the BOJ will undoubtedly correct the strong yen
  • Never said that the BOJ should directly underwrite construction bonds, only said buying them from the market was an option
  • Fiscal spending via public works must accompany monetary easing to pull Japan clear of deflation
  • Japan cannot restore fiscal health whilst in deflation, as tax revenues won’t rise

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