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Tags: Japan | Prime Minister | Inflation | Economy

Inflation Must Be Accompanied by Strong Economy, Japan Prime Minister Says

Tuesday, 12 February 2013 07:15 AM EST

Japanese Prime Minister Shinzo Abe said on Tuesday the central bank is responsible for achieving its new 2 percent inflation target, but that a rise in prices must be accompanied by strong economic growth driven by fiscal stimulus.

"It is possible to achieve the 2 percent inflation target with monetary policy, but fiscal stimulus is needed to support the economy as well because it would take time for wages to start rising," Abe told parliament.

Abe also said a "correction" of past sharp yen rises is driving up Japanese corporate profits, which should eventually help boost wages.


© 2022 Thomson/Reuters. All rights reserved.


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Japanese Prime Minister Shinzo Abe said the central bank is responsible for achieving its new 2 percent inflation target, but that a rise in prices must be accompanied by strong economic growth driven by fiscal stimulus. It is possible to achieve the 2 percent...
Japan,Prime Minister,Inflation,Economy
97
2013-15-12
Tuesday, 12 February 2013 07:15 AM
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