IMF endorses Japan's QQE despite slowing progress to 2% inflation target

Bank of Japan

The International Monetary Fund (IMF) today told the Bank of Japan (BoJ) it does not need to ease monetary policy any further "at this point" – even though it only expects inflation to reach 2% in 2017, and one BoJ policy-maker suggested it could take considerably longer than that.

In the latest staff report on Japan, the IMF gives a glowing review of the BoJ's quantitative and qualitative easing (QQE) programme, noting that both inflation and inflation expectations are increasing.

The BoJ is bu

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