TOKYO (Reuters) – Japan’s government has no plans to revise a joint statement with the central bank aimed at pulling the economy out of deflation, Prime Minister Shigeru Ishiba said on Thursday.
The public shared the need to reverse the yen’s excessive appreciation when former Prime Minister Shinzo Abe implemented his “Abenomics” stimulus policy in 2012-2013. which consisted of bold monetary easing, loose fiscal policy and structural reform, Ishiba told parliament.
“But what may have been an appropriate policy at the time, if sustained, may have had side effects,” he added.
Ishiba also said the government needs to scrutinize what the appropriate level of the exchange rate might be for the Japanese economy. He did not elaborate on specific levels.
