TOKYO —Shinzo Abe, who will become Japan’s prime minister Wednesday, kept up his calls on for the Bank of Japan to drastically ease monetary policy by setting an inflation target of 2 percent, and repeated that he wants to tame the strong yen to help revive the economy.
Prime Minister Yoshihiko Noda’s Cabinet resigned Wednesday to clear the way for a vote by parliament’s lower house later in the day to formally install Abe as the nation’s new leader.
Japanese media have said Abe will name former prime minister Taro Aso, 72, as finance minister; former trade and industry minister Akira Amari as minister in charge of a new economic revival headquarters; and policy veteran Toshimitsu Motegi as trade minister. Motegi also will be tasked with formulating energy policy in the aftermath of the Fukushima nuclear disaster last year.
Abe, 58, has promised aggressive monetary easing by the Bank of Japan and big fiscal spending by the debt-laden government to slay deflation and weaken the yen to make Japanese exports more competitive.