Japan LDP prefers to ease monetary policy further

TOKYO - Japanese main opposition Liberal Democratic Party (LDP) issued its pre-election pledges on Wednesday, eyeing on 3 percent nominal economic growth.

The president of the LDP Shinzo Abe held a press conference to announce the party's campaign promises for the upcoming general election on Dec 16, including economy recovery plan, national self-defense and nuclear energy strategy.

Abe vowed to carry out a five-year economic reform plan to realize nominal growth of at least 3 percent by setting a 2 percent inflation target and declared their determination to pursue a bold monetary easing policy to fight deflation if LDP win the election.

LDP also pledged to set up a national security council at prime minister's office, a decision-making agency on national security and foreign affairs.

On nuclear policy, the LDP thinks that it is necessary to make further discussion on whether to resume the reactors of all the nuclear power plants in Japan within three years.

Recent polls showed that the main Japanese opposition party could gain the most seats on the election, but no party is expected to win the majority.

The election campaigning would begin from Dec 4.