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Japan's central bank chief pledges to beat deflation
www.chinaview.cn 2003-09-23 19:40:05

  DUBAI, Sept. 23 (Xinhuanet) -- Japan's central bank governor said here Tuesday his bank will maintain its current super-easy monetary policy until deflation is overcome.

  Bank of Japan (BOJ) Governor Toshihiko Fukui made the remarks at a joint discussion of the World Bank and the International Monetary Fund annual meetings which formally kicked off here earlier in the day.

  "The BOJ is firmly committed to maintaining its current policy stance, until the consumer price index stabilizes at zero percent or above," Fukui said.

  "The government, together with the BOJ, will make continued efforts to maintain the stability of the financial and capital markets, as well as to overcome deflation," he said.

  On the increasing signs of economic recovery in Japan, Fukui said in order to achieve sustainable growth, the Japanese government will continue to pursue structural reform, through deregulation, purging non-performing loans from the banking sector, tax reforms and curbing growth in government debt.

  "The government has ... taken rigorous measures to improve the quality of financial institutions' capital, including the bold and prompt injection of public funds" into undercapitalized banks, Fukui added. Enditem

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