BOJ should not restrict term of easy policy-PM Abe's adviser

TOKYO Fri Jan 18, 2013 12:28am EST

TOKYO Jan 18 (Reuters) - The Bank of Japan does not necessarily have to pledge to buy assets "infinitely" but should not restrict the term of its expansionary monetary policy as long as deflation or recession continues, Prime Minister Shinzo Abe's economic adviser said.

"It is very important to institutionalise a legal framework so that the BOJ doesn't engage in too restrictive monetary policy," Koichi Hamada, Abe's special economic adviser, told a news conference on Friday.

"In order to do that, there should be some amendment to the present BOJ law," he said.

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