Japan: Staff Report for the 2006 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 275

Publication date: July 2006

ISBN: 9781451820676

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , Bank of Japan's June , core inflation , rate , GDP , core CPI , policy shift , end-June level , debt ratio , exchange rate , Fiscal consolidation , Inflation , Price stabilization , Fiscal stance , Global , Asia and Pacific , Middle East

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Summary

Japan showed strong economic recovery from the crisis. Executive Directors welcomed the development and stressed the need for a strong monetary framework, well-designed fiscal consolidation, and structural reforms. Directors agreed that the Bank of Japan’s monetary framework is well suited to the post deflation environment and welcomed the improvement in transparency. Directors appreciated the progress in fiscal consolidation and structural reforms. They encouraged the authorities to maintain an ambitious reform program to support balanced global growth and an orderly resolution of global current account imbalances.