Japanese PM holds first meeting with central bank chief ahead of G-20 summit

16:40, June 21, 2010      

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Japanese Prime Minister Naoto Kan met with Bank of Japan (B0J) Governor Masaaki Shirakawa Monday to exchange opinions about economic conditions at home and abroad ahead of a Group of 20 summit to be held in Canada later this week.

During Kan's first meeting with the central bank chief since he became leader earlier this month, the two discussed measures to combat the nation's lingering issue of deflation, but according to Shirakawa there was no mention from Kan as to how the central bank should manage its monetary policy.

Prior to becoming prime minister, Kan, in his role as finance minister, had leaned particularly hard on the central bank to do more to stamp out deflation.

"We exchanged opinions about economic conditions at home and abroad and financial conditions ahead of the Group of 20 summit this week," Shirakawa told reporters in Tokyo following the meeting, adding that he briefed the prime minister on domestic and international economic and financial issues that he felt Kan " should know."

Shirakawa declined to comment on whether he discussed China's yuan with Kan, following Saturday's news that China will further promote the reform of the RMB (yuan) exchange rate regime and increase the flexibility of the RMB exchange rate, and would not mention other specific topics discussed with the new prime minister.

Shirakawa did tell reporters however that he would like a similar audience with the prime minister every three months.

Also in attendance at today's meeting were Chief Cabinet Secretary Yoshito Sengoku and central bank Deputy Governor Hirohide Yamaguchi.



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