BOJ's Ishida: impact of sales tax hike should not be exaggerated

AOMORI, Japan, Sept 11 Wed Sep 11, 2013 2:33am EDT

AOMORI, Japan, Sept 11 (Reuters) - Bank of Japan board member Koji Ishida said on Wednesday that policymakers should not over-react to any temporary slump in the economy from an expected sales tax hike next year.

"We should respond calmly (to any temporary slump after the tax hike)," Ishida told a news conference after meeting with 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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