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Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund (IMF), said Friday that “Japan’s services inflation remains below 2% target, which is why remains appropriate the Bank of Japan (BoJ) to maintain accommodative monetary policy.” Additional quotes We see positive signs of Japan’s inflation moving durably to the 2% target. We support the BoJ’s approach in moving gradually, being data-dependent in raising interest rates. Bit early to have any very precise analysis of what consequences of trump trade tariffs will be. Overall, we recognize big benefits of Japan from its commitment to flexible exchange rate policy. Exporting firms make large profits by weak Yen, which also brings beneficial effects through tourism. Households with income constraints can feel consequences of higher prices via import costs from weaker Yen. It’s in interest of all countries to work together, take care of disagreements and ensure there is enabling environment for international trade, when asked about impact of trade fragmentation.   Source: https://www.fxstreet.com/news/imfs-gopinath-japans-services-inflation-remains-below-2-target-202502070202

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Filed under: News - @ February 7, 2025 2:13 am