BOJ should adopt inflation target says Nakahara

Central Banking staff
16 Mar 2004

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A former policy board member of the Bank of Japan has said that Toshihiko Fukui should pump more money into the economy and set an inflation target to fight deflation.

Nobuyuki Nakahara said in an interview in Tokyo that Fukui and his policy board colleagues should increase monthly purchases of government bonds from banks to at least 2 trillion yen ($18.1 billion) from 1.2 trillion yen. Fukui should also consider buying foreign bonds from banks, he said.

``The current stance of the BOJ is to

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