Inflation target may harm economy, says Koizumi

- Central Banking staff
- 29 Jan 2003

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Junichiro Koizumi, Japan's prime minister, on Wednesday appeared to back away from recent suggestions that he will appoint an inflation hawk at the Bank of Japan, saying an inflation target could harm the economy.

Speaking to a parliamentary budget committee, he said: "A target of merely achieving higher prices is not desirable." A new BoJ governor will be appointed for a five-year term from March 19, triggering speculation that Japan may be about to embark on a more aggressive monetary policy.

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