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BOJ's Kuroda: Hard to set nominal GDP as policy target

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(Globalpost/GlobalPost)

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday that it is difficult to set nominal gross domestic product as a target for monetary policy.

"It's difficult to adopt (nominal GDP) as a target now. I think a flexible inflation target is more realistic," Kuroda told parliament.

Mark Carney, the governor of the Bank of Canada who will switch jobs to take the helm of the Bank of England in July, had mentioned last year that targeting nominal GDP could be among extreme measures central banks could pursue as they run out of more conventional tools to boost their economies.

(Reporting by Leika Kihara; Editing by Shinichi Saoshiro)

http://www.globalpost.com/dispatch/news/thomson-reuters/130325/bojs-kuroda-hard-set-nominal-gdp-policy-target