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Washington, Feb. 27 (Jiji Press)--Glenn Hubbard, outgoing chief economic adviser to U.S. President George W. Bush, said Thursday the Bank of Japan is responsible for deflation in Japan, demanding "a more reflationary monetary policy." "I think the BOJ bears the brunt of the responsibility for deflation in Japan and it is on the bank's shoulders to correct that problem," he said.
Hubbard, chairman of the White House Council of Economic Advisers, was speaking in an interview with Jiji Press and other Japanese media organizations.
Hubbard declined to comment on …