Under-pressure BoJ adopts new inflation target
- Published: 22 Jan 2013 at 05.45
- Online news: World
The Bank of Japan on Tuesday adopted a two-percent inflation target and set out plans for indefinite monetary easing in a policy shift that Japan's new premier hailed as "epoch making".
A bank teller is pictured on September 22, 2010 counting yen notes in Tokyo. The BoJ on Tuesday adopted a 2% inflation target and set out plans for indefinite monetary easing in a policy shift that Japan's new premier hailed as "epoch making".
The moves -- set out in a rare joint statement with the government -- followed stern calls from the country's new administration led by Shinzo Abe to become more aggressive in kickstarting the nation's anaemic economy.
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