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01 November 2001 11:29  BoJ board members discuss price targeting - Sept 18 minutes


TOKYO (AFX-ASIA) - Members of the monetary policy board of the Bank of Japan discussed the possibility of setting inflation or price targets at its meeting on Sept 18, the meeting's minutes show. "Many views were put forward regarding inflation targeting in the discussion of the above problems in the overall economy," according to the minutes. "Some members shared the view that the key issue was not deciding whether to set a numerical target for prices but considering what would be effective policy measures that could be employed to achieve a target," they said. One board member said "it was not appropriate to adopt inflation targeting when the economy was still having structural problems and a numerical price target should be considered." Another member member agreed, saying "it would be desirable to introduce price level targeting rather than inflation targeting." tb/tr
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