IMF Chief Economist Suggests BOJ Move Away From Yield Control

The International Monetary Fund said Japan’s inflation risks are on the upside, and it recommends the Bank of Japan to be flexible and perhaps move away from its yield curve control program.

“Our advice for the Japanese authorities is that right now monetary policy can remain accommodating, but it needs to prepare itself for the need to maybe start tightening,” IMF Chief Economist Pierre-Olivier Gourinchas said Tuesday in Washington.