Reuters: US Dollar Report: BOJ Deputy Gov: U.S.'s failure to lift debt ceiling would hit global economy

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BOJ Deputy Gov: U.S.'s failure to lift debt ceiling would hit global economy Oct 9th 2013, 01:50 MATSUE, Japan | Tue Oct 8, 2013 9:50pm EDT MATSUE, Japan Oct 9 (Reuters) - Bank of Japan Deputy Governor Hiroshi Nakaso said on Wednesday that failure by the United States to lift its debt ceiling would have a significant adverse effect on the global economy by pushing up long-term interest rates and creating volatility in foreign exchange rates. "A prompt resolution of the fiscal consultation issue is critical for the global economy, including Japan," Nakaso said in a speech to business leaders in Matsue, western Japan. The BOJ offered an intense burst of monetary stimulus in April, pledging to double the base money via aggressive asset purchases to achieve its 2 percent inflation target in two years. It has stood pat on policy since then.

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