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APAC

Japan PM Abe: Will work with BOJ to accelerate 'Abenomics'

Japanese Prime Minister Shinzo Abe speaks during a high-level meeting on addressing large movements of refugees and migrants at the United Nations General Assembly in Manhattan, New York, U.S. September 19, 2016. REUTERS/Carlo Allegri

TOKYO (Reuters) - Japan’s Prime Minister Shinzo Abe on Wednesday welcomed the Bank of Japan’s decision abrupt shift in policy, saying his government will work with the central bank to boost his economic growth program.

“The government and the BOJ will work as one in close coordination to accelerate ‘Abenomics,’” the prime minister told a Reuters Newsmaker event in New York, hours after the BOJ decision.

The central bank shifted to targeting interest rates on government bonds to achieve its elusive inflation target, after years of massive money printing failed to jolt the economy out of decades-long stagnation.

Reporting by Kiyoshi Takenaka; Editing by William Mallard

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