IMF says it supports BOJ’s approach of maintaining monetary support

IMF’s Japan mission chief out with as statement 22 Sept

  • mon pol should stay the course in Japan
  • BOJ will be behind the Fed and ECB in normalizing mon pol

Why does no one seem to cite the BOE in these «normalization » discussions if markets are pricing in tapering for the UK ?

  • BOJ mon pol is focussed on domestic conditions
  • more explicit communication on how BOJ expects to achieve price target will help as Abenomics is much about affecting public expectations
  • gradual steady increase in sales tax couple with steps to curb social security spending is most growth-friendly way to achieve medium-term fiscal reform

IMF seemingly think they have the answers for Japan. I’m sure Kuroda/Abe et all will be paying close attention. Not.

USDJPY crawling back up at 111.94. Order board here.

           BOJ/Kuroda — Keep on keeping on says IMF

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