TOKYO : The Bank of Japan must keep monetary policy ultra-loose as it will take time to re-anchor inflation expectations to its 2 per cent target, International Monetary Fund's chief economist Pierre-Olivier Gourinchas told Reuters.But the central bank must be vigilant to the risk of price growth overshoo
TOKYO : The Bank of Japan must keep monetary policy ultra-loose as it will take time to re-anchor inflation expectations to its 2 per cent target, International Monetary Fund's chief economist Pierre-Olivier Gourinchas told Reuters.
"But it will take time. It won't happen overnight" as the public must be convinced Japan won't fall back to deflation, Gourinchas said, adding it was"too early" for the BOJ to tighten policy. "We could have similar dynamics in Japan. So, there is a need to be vigilant and to be ready to tighten monetary policy if inflation remains too elevated."
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