Japan: Oil Price Dip Benefits Economy

Japanese Prime Minister Shinzo Abe said on Tuesday that falling oil prices are positive for the country's economy as they boost corporate revenues and households' disposable income.

"The Bank of Japan is implementing bold monetary easing to achieve its 2 percent inflation target. It's up to the BOJ to decide on specific monetary means to achieve this," Abe told a news conference.

Slumping oil prices have nudged annual core consumer inflation to 0.2 percent in January, pushing it further away from the BOJ's 2 percent target and keeping alive market expectations that it will ease policy again later this year.

Reporting by Leika Kihara