News Headline Summary

Japan PM Abe says it is possible to reach 2% price target with monetary policy

- Calls on BoJ to do all it can to fight deflation.
- Achieving a 2% target alone is not enough, must be accompanied by strong economic growth.
- Japan's currency is correcting.
- Correction of FX moves driving up corporate profits which will help increase wages.

Update details:

- These comments are a reiteration of Japan's inflation target rate.
- BoJ's next meeting is scheduled for February 14.

Reaction details:

- No immediate reaction seen in USD/JPY, trades 94.25 (-4 pips) last.

Print 01:30, 12 Feb 2013 - Asian News - Source: Newswires