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Japan PM Abe: Oil price falls benefit Japan's economy

Tuesday, March 10, 2015 - 18:56
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Japanese Prime Minister Shinzo Abe said on Tuesday that falling oil prices are positive for the country's economy as they boost corporate revenues and households' disposable income.

[TOKYO] Japanese Prime Minister Shinzo Abe said on Tuesday that falling oil prices are positive for the country's economy as they boost corporate revenues and households' disposable income.

"The Bank of Japan is implementing bold monetary easing to achieve its 2 per cent inflation target. It's up to the BOJ to decide on specific monetary means to achieve this," Mr Abe told a news conference.

Slumping oil prices have nudged annual core consumer inflation to 0.2 per cent in January, pushing it further away from the BOJ's 2 per cent target and keeping alive market expectations that it will ease policy again later this year.

REUTERS