News Headline Summary

Japan's ruling party tax chief Fujii says strongly opposed to inflation target and BoJ law change

Says:

- Excessive credit easing would result in return of economic bubbles.

Update details:

- A Bank of Japan law change is something which has been proposed by the main LDP opposition party in Japan.

- Mr. Abe, the leader of the LDP, renewed his pledge to undertake bold measures Saturday, suggesting he will ask the Bank of Japan to underwrite construction bonds, a type of Japanese government debt issued to finance infrastructure projects, once he returns to power. But such a move would require a change in Japan's laws: The underwriting of government bonds by the Japanese central bank is in principle banned under a law on state finances.

Full article: http://online.wsj.com/article/SB10001424127887323353204578126761231120322.html?mod=googlenews_wsj

Print 04:10, 19 Nov 2012 - Asian News - Source: Newswires/WSJ