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BOJ's Kataoka calls for more stimulus, criticises July steps

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BOJ's Kataoka calls for more stimulus, criticises July steps
FILE PHOTO: Bank of Japan (BOJ) new policy board members Goushi Kataoka attends a news conference at BOJ headquarters in Tokyo, Japan July 25, 2017. REUTERS/Issei Kato   -   Copyright  Issei Kato(Reuters)
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YOKOHAMA, Japan (Reuters) – Bank of Japan board member Goushi Kataoka on Thursday criticised the central bank’s decision in July to make its policy framework more sustainable, arguing that it should have instead ramped up stimulus to hasten achievement of its price target.

“There’s no need to allow long-term interest rates to move in a wider range at a time when the BOJ is cutting its inflation forecasts,” Kataoka said in a speech to business leaders in Yokohama, a city near Tokyo.

A vocal advocate of aggressive monetary easing, Kataoka opposed the BOJ’s decision in July to allow long-term rates to move more flexibly around its target of around zero percent.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)

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