Japan PM defends monetary easing

2013-01-31 07:43:56 GMT2013-01-31 15:43:56(Beijing Time)  Xinhua English

BEIJING, Jan. 31 (Xinhuanet) -- Japanese Prime Minister Shinzo Abe waded into the growing global debate about currency wars for the first time on Wednesday, shrugging off criticism that Tokyo was trying to intentionally weaken the yen with its monetary and fiscal stimulus measures.

In his first public comment on the issue, Abe says the measures taken by the government and the BOJ are aimed at beating deflation and achieving sustainable economic growth.

The defense comes after global central bankers and business executives questioned the wisdom of continuing easy monetary policy at the World Economic Forum in Davos last week but Abe continues to pile pressure on the Bank of Japan to expand monetary stimulus, calling for bold measures to achieve its new 2 percent inflation target.

(Source: CNTV.cn)

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