Japan finmin Aso: BOJ steps took policy to new dimension

TOKYO, April 4 Thu Apr 4, 2013 2:54am EDT

TOKYO, April 4 (Reuters) - Japanese Finance Minister Taro Aso said on Thursday that the Bank of Japan took bold steps which took monetary policy to a new dimension in order to achieve its two percent inflation target.

"The BOJ's decision can be appropriately described as quantitative and qualitative easing. The BOJ deciding to embark on bold policy steps within such a short span of time was commendable," Aso told reporters.

Aso said the government will continue to work on fiscal discipline and reform.

The BOJ shocked markets on Thursday with a radical overhaul of its policymaking, adopting a new balance sheet target and pledging to double its government bond holdings in two years as it seeks to end nearly two decades of deflation.

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