Japan PM Abe: Inflation must be accompanied by strong economy
TOKYO Feb 12 (Reuters) - Japanese Prime Minister Shinzo Abe said on Tuesday the the central bank is responsible for achieving its new 2 percent inflation target, but that a rise in prices must be accompanied by strong economic growth driven by fiscal stimulus.
"It is possible to achieve the 2 percent inflation target with monetary policy, but fiscal stimulus is needed to support the economy as well because it would take time for wages to start rising," Abe told parliament.
Abe also said a "correction" of past sharp yen rises is driving up Japanese corporate profits, which should eventually help boost wages.
- Tesla says in talks with BMW over car batteries, parts
- Hagel, under pressure, resigns as defense secretary |
- Missouri grand jury has made decision in fatal shooting of black teen: report |
- Iran nuclear talks extended seven months after failing to meet deadline |
- Actor Dwight Henry eyed in New Orleans killing after arrest for theft
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video