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BOJ leadership nominee says 'no limits' to central bank policy

Economist Masazumi Wakatabe supports more easing to reach 2% inflation target

Waseda University professor Masazumi Wakatabe speaks at a parliamentary confirmation hearing Monday.   © Reuters

TOKYO -- The Bank of Japan's two nominees for deputy governor posts argued Monday that monetary easing has done more good than harm, with one saying he would urge the central bank to go even further if necessary.

Japan has "reached a state where we're not in deflation, but we haven't attained the 2% [inflation target], so completely overcoming deflation remains a challenge," economist Masazumi Wakatabe, an outspoken reflationist, told a parliamentary committee at a confirmation hearing. The BOJ should use "every means at its disposal" toward this goal, he said.

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