IMF deputy MD Lipton speaking on Japan after Article 4 meetings 20 June 2016
- flexible exchange rate system serves Japanese economy well.
Abe and Kuroda may fail to see the positives methinks
- difficult to spur inflation without raising wages
- 2% inflation unlikely in 2017
- important for Japan to find a way to reschedule sales tax hike
- has faith in Japan govt and BOJ]
- negative rates are welcome policy addition but mon pol alone won't deliver desired outcome
Meanwhile USDJPY going nowhere fast at 104.62
