BOJ's Ishida: export strength needed to sustain economic recovery

AOMORI, Japan, Sept 11 Tue Sep 10, 2013 10:20pm EDT

AOMORI, Japan, Sept 11 (Reuters) - Bank of Japan board member Koji Ishida said on Wednesday that exports must start to act more as the driver of the country's economic growth to sustain the current recovery.

"Most of Japan's past economic recoveries were driven by exports. The recovery now is spurred by domestic demand such as personal consumption, housing investment and public works spending, but exports must start to act as driving force," Ishida said in a speech to business leaders in Aomori, northern Japan.

The BOJ offered an intense burst of monetary stimulus in April, pledging to double the base money via aggressive asset purchases to achieve its 2 percent inflation target in roughly two years. It has stood pat on policy since then.

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