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BOJ official rejects IMF criticism of bond-buying target

Central bank maintains 80tn yen soft goal despite shifting policy focus

The Bank of Japan's monetary policy is better served by keeping the bond-buying target, according to Deputy Gov. Kikuo Iwata

TOKYO -- A Bank of Japan official on Thursday defended the central bank's ongoing soft target for increasing government bond holdings, shrugging off the International Monetary Fund's suggestion to drop the pledge.

The central bank has maintained a goal of taking on 80 trillion yen ($718 billion) more in Japanese government bonds per year, though it has slipped from that target of late.

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