5/31/2013

A 20% decline of Japan's yen from its 2012 average is not a problem as the Bank of Japan works to "decisively exit" long-standing deflation, the International Monetary Fund said in a report. "So long as monetary easing pursues domestic goals, and is accompanied by comprehensive fiscal and structural reforms, we do not see the yen's recent depreciation as problematic," the IMF said.

Related Summaries