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Japan Govt's Aim Is To End Deflation, Not To Weaken Yen, FinMin Says

The Japanese government's aim is to overcome deflation in the economy and not to depreciate the currency, Japan's Finance Minister Taro Aso reportedly said Sunday.

The policies are intended to pull the economy out of deflation and the fall in yen was merely the result of these actions, he told public broadcaster NHK.

Since taking office in December, Japanese Prime Minister Shinzo Abe has announced fiscal stimulus to revive the economy. Under pressure from the government, the Bank of Japan last month doubled its inflation target to 2 percent and announced open-ended asset purchases from January next year.

by RTTNews Staff Writer

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