TOKYO Japan's main opposition Liberal Democratic Party said on Friday it would do its utmost to beat deflation and the strong yen, and aims to achieve nominal annual economic growth of 3 percent or more by adopting all available policy steps.
In a draft report which will become the basis of its campaign platform for the upcoming election, the LDP called for setting an inflation target of 2 percent and boosting cooperation between the government and the Bank of Japan through a revision to the BOJ law.
The LDP also proposed launching a public-private sector fund to purchase foreign bonds.
Japan is set to dissolve parliament's lower house on Friday for a December 16 election that is likely to return the long-dominant LDP to power with a conservative former prime minister at the helm.
(Reporting by Tetsushi Kajimoto; Writing by Shinichi Saoshiro; Editing by Edwina Gibbs)