BOJ policymaker shunned IMF proposal to set price target in range

By Leika Kihara TOKYO (Reuters) - A Bank of Japan policymaker played down the chance of meeting a proposal by the International Monetary Fund to tweak the central bank's 2% inflation target into a looser goal set in a range, a summary of opinions at the BOJ's December rate review showed. As stubbornly low inflation forces the BOJ to maintain a massive stimulus programme despite the strain inflicted on financial institutions, the IMF said in a policy proposal in November the BOJ could make its price goal a more flexible one by adopting a target range for price moves

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