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Thursday, November 7, 2019

Japan govt. panel members call for bold steps to support growth

TOKYO (Reuters) - Private-sector members of Japan's top economic council on Thursday called on the government to undertake "flexible" policies to prevent the economy from worsening.

The government should use the current low interest rate environment to underpin demand by boosting government-funded investment programs, the members said in a proposal presented to the Council on Economic and Fiscal Policy (CEFP).

"We hope the Bank of Japan takes additional monetary easing steps without hesitation if the economy risks losing momentum to achieve its inflation target," the members said.

The proposals by the private-sector members form the basis of the government's long-term economic policy platform.

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