March 4, 2013 / 2:25 AM / in 5 years

BOJ must ease further to meet 2 pct target-gov nominee Kuroda

TOKYO, March 4 (Reuters) - The Bank of Japan must ease monetary policy further both by expanding the size of asset purchases and targeting a wider type of assets in order to achieve its 2 percent inflation target, Haruhiko Kuroda, the government’s nominee for next central bank governor, said on Monday.

He also said the central bank should consider extending the duration of the maturity of government bonds it buys under its asset-buying scheme from the current three years.

“Japan is still mired in deflation. In order to correct this, end deflation and achieve the BOJ’s 2 percent inflation target, the steps already decided by the central bank is not enough,” he said in a confirmation hearing in the lower house of parliament.

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