IMF's Lipton says Japan benefits from flexible exchange rate

20 June 2016, 08:28
Sherif Hasan
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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

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