Abe, Japan’s seventh prime minister since 2007, has called for unlimited monetary easing and a doubled central bank inflation target to help revive the world’s third-biggest economy. The Bank of Japan (8301) heeded that call, saying today after a policy meeting that it will raise the price goal to 2 percent and move to open-ended asset purchases starting in January 2014
The Abe administration’s determination to end deflation through coordinated action with the central bank has helped push the yen about 4.3 percent lower against the dollar since the government took office Dec. 26. The currency has weakened from the postwar record of 75.35 reached in October 2011 to as low as 90.25 yesterday
The Abe administration’s determination to end deflation through coordinated action with the central bank has helped push the yen about 4.3 percent lower against the dollar since the government took office Dec. 26. The currency has weakened from the postwar record of 75.35 reached in October 2011 to as low as 90.25 yesterday
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