Reuters: US Dollar Report: BOJ nominee Nakaso: won't be bound by precedence to end deflation

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BOJ nominee Nakaso: won't be bound by precedence to end deflation Mar 5th 2013, 02:11 TOKYO, March 5 | Mon Mar 4, 2013 9:11pm EST TOKYO, March 5 (Reuters) - The government's nominee for the next Bank of Japan deputy governor said on Tuesday that he would guide monetary policy without being bound by precedence if parliament approves his nomination. Hiroshi Nakaso, currently a BOJ official that overseas the central bank's international operations, also said he would seize the current opportunity to beat deflation and achieve a 2 percent inflation target. "Now is a chance that will never come again for the economy to beat deflation and achieve a sustained growth with price stability," Nakaso said in a confirmation hearing in the lower house of parliament. Prime Minister Shinzo Abe last week nominated Nakaso as one of the two new deputy governors for the central bank in a push for more aggressive monetary easing to meet a 2 percent inflation target and end nearly two decades of deflation.

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