Tuesday, 22 January 2013 09:00

Japan Makes Bold Move to Help Boost Economy

Written by  Jeanette Torres
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Authors: Jeanette Torres

Japan Makes Bold Move to Help Boost EconomyStockbyte/Thinkstock(TOKYO) -- Japan's prime minister is making a bold move -- and staking the country's financial future on it.
Shinzo Abe has proposed the unlimited printing of money and a 2 percent inflation target to lift Japan out of decades of economic stagnation. 

On Tuesday, the country's central bank, the Bank of Japan, agreed to enact Abe's policy, raising hopes of a Japanese comeback.
Deflation and a strong currency have plagued Japan for years, but expectations of a turnaround have sent stocks soaring in recent weeks.
Critics of Abe's plan say it only adds to the country's massive public debt.

Copyright 2013 ABC News Radio

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