NEW YORK, April 19 Japanese Finance Minister
Taro Aso on Wednesday brushed aside the possibility that the
country's central bank would resort to "helicopter money," or
direct underwriting of public debt to fund government finances.
"In reality, there are various problems to such ideas. For
one, it would undermine the Bank of Japan's independence and
market confidence over monetary policy," Aso said in a seminar
at Columbia University.
"If we abandon our efforts on fiscal discipline, that could
invite a bust in Japan's finances or runaway inflation that
would have a detrimental effect on the general public. We can't
allow that to happen," he said.
(Reporting by Leika Kihara; Editing by Leslie Adler)