Keidanren to cooperate with Abe

Kyodo

Keidanren leader Hiromasa Yonekura plans to cooperate with the economic policies of Liberal Democratic Party President Shinzo Abe, reversing his earlier criticism of Abe’s monetary policy.

“There is nothing to worry about, because he has vowed to maintain fiscal discipline along with monetary easing,” Yonekura said Tuesday before Abe became prime minister Wednesday.

Yonekura also welcomed the yen’s recent fall against major currencies as “very positive,” and appreciated Abe’s stance on Japan-South Korea relations after recent signs of improvement.

Regarding his comment last month that Abe’s calls for bolder monetary easing were “reckless,” Yonekura said, “My remark was not based on any malicious intent.”