Japan's Jojima: wants bold BOJ moves to beat deflation

TOKYO Sun Oct 28, 2012 9:16pm EDT

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TOKYO Oct 29 (Reuters) - Finance Minister Koriki Jojima said he wants the Bank of Japan to take bold policy steps while closely working with the government to beat deflation, piling pressure on the central bank to act on the eve of its rate review.

"The government and the BOJ share the view that it is extremely important to beat deflation," Jojima told reporters after a cabinet meeting on Monday.

"I expect the BOJ to continue to promote bold monetary easing while working closely with the government."

The BOJ is expected to ease policy on Tuesday by expanding its asset purchases and may make a stronger commitment to continue pumping cash into the economy until 1 percent inflation is achieved, sources say, as slumping exports heighten pressure for bolder action to support an economy on the verge of recession.

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