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BOJ Should Gradually Increase Interest Rates: IMF

BOJ Should Gradually Increase Interest Rates: IMF

   Tokyo, Feb. 9 (Jiji Press)--The International Monetary Fund in a statement issued on Friday suggested that the Bank of Japan should exit from its massive monetary easing and gradually raise policy interest rates.
   In the statement, at the conclusion of a screening by its mission to Japan, the IMF also proposed that the Asian nation should consider raising its consumption tax rate, stressing the need to rebuild Japan's fiscal condition, which is one of the worst among the developed economies.
   "Upside risks to inflation have materialized in the past year" in Japan, the IMF observed.
   The international organization said that the Japanese central bank should end its monetary easing measures, which include its yield curve control scheme, as such measures have "already successfully met" their objective.
   The BOJ needs to be "gradually raising short-term policy rates," it added.

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AFP-JIJI PRESS NEWS JOURNAL


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