October 12, 2018 / 4:33 AM / in a month

IMF says too early to talk about exit from easy policy in Japan

FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S. September 4, 2018. REUTERS/Yuri Gripas/File Photo

NUSA DUA, Indonesia (Reuters) - A senior International Monetary Fund official said on Friday it was “too early” to talk about normalising monetary policy in Japan, as it will take a long time to achieve the Bank of Japan’s 2 percent inflation target

“Do you think it’s time for the Bank of Japan to exit easy policy? The short answer is no,” Odd Per Brekk, deputy director of the IMF’s Asia and Pacific department, told a news conference during the Fund’s and World Bank’s annual meeting in the Indonesian resort island of Bali.

He added that ultra-loose monetary policy must be accompanied by other efforts, such as structural reforms, for Japan to see inflation hit the BOJ’s target.

Changyong Rhee, director of the IMF’s Asia and Pacific department, told the same news conference that there will be no winners in Asia from escalating Sino-U.S. trade tensions.

Reporting by Leika Kihara; Editing by Shri Navaratnam

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