Japan Thumbs Up

The Bank of Japan’s new policy framework has made its monetary easing more sustainable and effective, according to the International Monetary Fund, which also suggested the BoJ further enhance its communications, Bloomberg reported. “The change in the framework has made it clear that there are still tools available that allow monetary policy to be as accommodative as possible for the future and raise inflation expectations,” Luc Everaert, the fund’s mission chief for Japan, said in an interview in Tokyo. “We support it and we also find that the framework allows monetary easing to be more sustainable and more effective. New measures allow more flexibility and they can be kept in place for a longer time.”