Japanese central bank fends off calls for stimulus

11/27/2012 | Reuters

The Bank of Japan declined to increase economic stimulus, despite demands from Liberal Democratic Party leader Shinzo Abe, who is running for prime minister. The central bank also dismissed proposals from Abe that would curtail its independence. "Central bank independence is a system created upon bitter lessons learned from the long economic and financial history in Japan and overseas countries," Governor Masaaki Shirakawa said.

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