IMF says BOJ hike welcome news

A senior IMF official on Friday 14 July welcomed the decision by the Bank of Japan to end the era of zero interest rates.

"We consider that the modest removal of accommodation is an appropriate move toward a more neutral monetary stance, and is consistent with sustained non-inflationary growth," said Daniel Citrin, the IMF's Asia and Pacific Department deputy director and mission chief for Japan.

"Going forward, further removal of accommodation would appropriately be gradual, in light of the lo

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