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