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Bank of Japan policymaker shuns IMF proposal to set price target in range: meeting

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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 per cent inflation target into a looser goal set in a range, a summary of opinions at the BOJ's December rate review showed on Friday.

[TOKYO] 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 per cent inflation target into a looser goal set in a range, a summary of opinions at the BOJ's December rate review showed on Friday.

"The BOJ should constantly consider what works best as its policy framework. But the introduction of an inflation range target, such as that proposed by the IMF, could weaken its commitment to achieving the price target," one of the BOJ board's nine members was quoted as saying.

REUTERS