Japan's finance minister praises central bank chief for fighting deflation

13:11, April 06, 2010      

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Japan's Finance Minister Naoto Kan on Tuesday praised Bank of Japan (BOJ) Governor Masaaki Shirakawa for working with the government to fight deflation as the nation looks to move into a self-sustaining economic recovery.

"Of course, we understand that each organization is independent, " Kan said at a news conference. "But at the same time the BOJ and the government have in a way been united, particularly in connection with addressing deflation."

Kan made the comments almost two years after Shirakawa became BOJ governor. His term is expected to last through 2010.

Since coming to power, the DPJ has pressured the BOJ to do more to battle deflation and help with stimulus measures until the economy can support itself.

The BOJ starts its two-day policy meeting on Tuesday, where it is expected to keep a key interest rate at near zero. It is also expected to wait on further action in case the economy worsens in the near future.

Source: Xinhua


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