Fukui says BOJ wants 'favourable money supply'

Bank of Japan Governor Toshihiko Fukui told Parliament Wednesday 17 March that the central bank wants to achieve "favourable money supply" growth and that the economy hasn't recovered enough to allow the BOJ to adopt an explicit inflation target.

``We are attempting to make our monetary policy effective, and we would like to eventually achieve a favourable expansion of money supply,'' Fukui said at the budget committee of the upper house of parliament in Tokyo. Still, ``it will take a while''

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