Abe Pressures BOJ

Liberal Democratic Party President Shinzo Abe, who will become prime minister on Dec. 26, and New Komeito leader Natsuo Yamaguchi agreed Tuesday to compile a large-scale supplementary budget for fiscal 2012 as they kicked off talks to form a coalition government.

Abe also met with Bank of Japan Gov. Masaaki Shirakawa earlier in the day and urged the central bank to set an annual inflation target of 2 percent for the consumer price index.

In their chat held a day ahead of a two-day BOJ Policy Board meeting, Abe also told Shirakawa that his incoming government wants to reach a policy accord with the BOJ under which the bank will set the inflation target and keep pursuing monetary easing until achieving it.

Read the rest of the story: Abe prepares ruling bloc, pressures BOJ.

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