Japan s new prime minister approved Yen at 20 Month low

Japan S New Prime Minister Approved Yen At 20 Month Low

Shinzo Aze has beenapproved Japan's nextprime minister. Abe is ...More
Shinzo Aze has beenapproved Japan's nextprime minister. Abe iscalling for aggressivemonetary policy easingand fiscal spending inthe effort to defeatdeflation by weakeningthe yen and restoring astrong economy.    Abe,who was previously primeminister in 2007, ishoping to achieve a 2percent inflation targetwith the BOJ. Abe's partyis threatening to revisethe law regarding theBOJ's independence ifthey do not agree to the2 percent target rate.With the added pressureon the BOJ the Less

Japan s new prime minister approved Yen at 20 Month low

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Shinzo Aze has been approved Japan's next prime minister. Abe is calling for aggressive monetary policy easing and fiscal spending in the effort to defeat deflation by weakening the yen and restoring a strong economy. Abe, who was previously prime minister in 2007, is hoping to achieve a 2 percent inflation target with the BOJ. Abe's party is threatening to revise the law regarding the BOJ's independence if they do not agree to the 2 percent target rate. With the added pressure on the BOJ the yen dropped to a 20-month low of 85.38 Wednesday against the dollar.
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Shinzo Aze has been approved Japan's next prime minister. Abe is calling for aggressive monetary policy easing and fiscal spending in the effort to defeat deflation by weakening the yen and restoring a strong economy.

Abe, who was previously prime minister in 2007, is hoping to achieve a 2 percent inflation target with the BOJ. Abe's party is threatening to revise the law regarding the BOJ's independence if they do not agree to the 2 percent target rate. With the added pressure on the BOJ the yen dropped to a 20-month low of 85.38 Wednesday against the dollar.

Elsewhere, US holidays sales slowed by more than half this year with a marginal advance of 0.7% on retail sales. The report was done by MasterCard's SpendingPulse who track total US sales at stores and online. With still no agreement on the fiscal cliff and the Hurricane Sandy disruption, Americans have become weary and growth has slowed. Consumer confidence was also at a five month low in December. The only area that benefited was home-related products. Americans have been using their holiday money to replace ruined appliances from the hurricane. The Newtown massacre has also hit Americans nationwide.

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Posted on: 08:22 PM - 13 Jan 13

Japan s new prime minister approved Yen at 20 Month low
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Shinzo Aze has been approved Japan's next prime minister. Abe is calling for aggressive monetary policy easing and fiscal spending in the effort to defeat deflation by weakening the yen and restoring a strong economy.
   Abe, who was previously prime minister in 2007, is hoping to achieve a 2 percent inflation target with the BOJ. Abe's party is threatening to revise the law regarding the BOJ's independence if they do not agree to the 2 percent target rate. With the added pressure on the BOJ the
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