Japan govt wants framework to cooperate with BOJ

TOKYO Mon Jan 7, 2013 9:17pm EST

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TOKYO Jan 8 (Reuters) - Japan's government wants to create a framework where it can cooperate closely with the Bank of Japan to bring an early end to deflation, a draft of an economic stimulus package showed on Tuesday.

The government will watch foreign exchange moves closely and take appropriate action when needed, a draft distributed to reporters showed.

Japan aims to spur growth by encouraging research and development, as well as investment in renewable energy, the draft showed.

The draft did not mention the size of the economic package but the government is likely to spend up to 10 trillion yen ($114 billion) on economic stimulus, several sources told Reuters on Monday.

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