Bank of Japan governor reiterates that economy expanding moderately |
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Published
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Fri, 12 Jan 2007 03:07
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TOKYO (XFN-ASIA) - Bank of Japan governor Toshihiko Fukui has reiterated that the economy is still growing gradually and that he expects the recovery to continue, led by private demand.Fukui stressed that the central bank would continue to manage its monetary policy 'appropriately' to ensure sustained growth.In a speech at the latest quarterly meeting of Bank of Japan branch managers, the governor said: 'Japan's economy is expanding moderately.'He said this growth was supported by rising wages, brisk corporate activity and continuing growth in exports.'Since a positive correlation of production, income and spending is at work, the possibility is high that Japan will see a long-lasting recovery,' he said.Fukui said deflationary pressure was abating, remarking: 'The year-on-year rate of change in consumer prices is projected to continue to follow a positive trend as the output gap continues to be positive.'(1 usd = 120.67 yen)yasuhiko.seki@xfn.com
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Japanese central banker says economy still expanding despite slowdown in US 