January 22, 2013 / 7:51 AM / in 5 years

Japan govt spokesman: need to revise BOJ law lessening

TOKYO, Jan 22 (Reuters) - The Japanese government’s top spokesman said on Tuesday that a need to revise a law that guarantees the central bank’s independence was lessening, judging from a joint statement made by the government and the Bank of Japan earlier in the day.

Chief Cabinet Secretary Yoshihide Suga, speaking to reporters, said that the BOJ’s decision on Tuesday to set a 2 percent inflation target and to achieve that goal as soon as possible was highly commendable.

Under pressure from the government to step up efforts to combat deflation, the central bank doubled its inflation target percent and adopted an open-ended commitment to buy assets.

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