Road accident deaths drop by 50% in Saudi Arabia    SR 3.95 million fines for 3 employees of a company and 6-month jail for one for violating Capital Market Law    Qassim emir launches 52 health projects costing a total of SR456 million    BD and INS partner to elevate standards of infusion care in MENAT    Dubai Design Week launches its 10th edition, celebrating creativity and innovation    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    Italy's 'Libra' to arrive in Albania with just eight migrants on board    South Africa shuts border crossing with Mozambique over poll unrest    French families sue TikTok over harmful content that allegedly led to suicides    Harris tells supporters 'never give up' and urges peaceful transfer of power    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Japan CB chief promises to end deflation
Published in The Saudi Gazette on 22 - 03 - 2013

TOKYO — The newly installed governor of Japan's central bank said Thursday that he plans to do whatever he can to end deflation and break the economy out of the doldrums.
After a meeting with Prime Minister Shinzo Abe, Haruhiko Kuroda told reporters he had reiterated his pledge to “do everything we can to get the economy out of deflation.”
Kuroda, a Finance Ministry veteran who most recently headed the Asian Development Bank, has firmly backed Abe's economic strategy including setting a 2 percent inflation target which he says he hopes to meet within two years.
While Abe is hoping for a quick reflation of the economy, Finance Minister Taro Aso expressed doubts Thursday during questioning in parliament.
“To be honest, I'm skeptical whether (prices can rise by 2 percent) within two years so easily,” Kyodo News Service quoted Aso as saying.
Kuroda took office on Wednesday, succeeding Masaaki Shirakawa who had shown reluctance to add to Japan's massive public debt through more aggressive monetary easing. He stepped down three weeks before his five-year term was to end.
Abe and some experts view years of falling prices, which tend to discourage corporate investment, as a key reason for Japan's economic stagnation over the past two decades. However there are doubts about how much looser monetary policy can help after years of near-zero interest rates.
In a news conference late Thursday, Kuroda was optimistic about achieving the inflation target but downplayed concerns that easing monetary policy might lead to asset price bubbles or other destabilizing trends, such as rising yields on government bonds that could strain public finances.
So far there has been no sign of a rise in prices, though other indicators have shown Japan may be emerging from recession.
“It's just the beginning of 'Abenomics.' It's all about expectations rather than results,” Hugh Patrick, a professor at Columbia University's Center on Japanese Economy and Business, said at a conference Thursday. – AP


Clic here to read the story from its source.