IMF seeks ‘powerful’ easing from Bank of Japan

The International Monetary Fund said Tuesday the Bank of Japan should pursue “powerful monetary easing” to increase the chance of meeting its 1% inflation goal by 2014, according to a statement published on the website of the Washington-based agency.

Japan could substantially expand its asset purchase program in an effort to drive down lending rates to help achieve the inflation goal, the IMF said in the concluding statement, following its annual consultation mission.

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