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News Summary: Japan's leader defends 'Abenomics'

The Associated Press

DEFENSE: Japan's leaders defended the economic strategies championed by Prime Minister Shinzo Abe a day after Tokyo stocks suffered their worst loss since the 2011 tsunami disaster.

BETTER COMMUNICATION: Bank of Japan Gov. Haruhiko Kuroda acknowledged a need for better communication with financial markets and the need for careful handling of aggressive monetary policies aimed at breaking the world's third-largest economy free of deflation, or falling prices, that has hobbled growth by slowing investment and consumer spending.

STANDING FIRM: Kuroda, Abe and other officials said they will stick to the "Abenomics" program of extreme monetary stimulus, government spending and reforms aimed at reviving growth after two decades of stagnation.