Reuters: US Dollar Report: Japan's incoming PM keeps up pressure on BOJ to attack deflation

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Japan's incoming PM keeps up pressure on BOJ to attack deflation Dec 25th 2012, 04:17 TOKYO | Mon Dec 24, 2012 11:17pm EST TOKYO Dec 25 (Reuters) - Incoming Japanese Prime Minister Shinzo Abe reiterated calls on Tuesday for the Bank of Japan to conduct bold monetary easing to beat deflation by setting an inflation target of 2 percent. "With firm resolution we will work to beat deflation, correct the strong yen and achieve economic growth," Abe said during a meeting with officials from Japan's major business lobby, Keidanren. Abe added that he would leave specific policy steps to the central bank after he is elected as prime minister in parliament on Wednesday. Japan cannot achieve fiscal reform without beating deflation and achieving economic growth, he said.

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