IMF top economist sees Japan’s monetary easing as appropriate

The Bank of Japan’s accommodative monetary policy stance “seems quite appropriate,” Pierre-Olivier Gourinchas, chief economist at the International Monetary Fund, said in an interview on Tuesday.

“We don’t see signs that … monetary policy needs to be contractionary in Japan,” given a lack of inflation pressures, Gourinchas said. The monetary easing “can help sustain economic activity” in Japan, he said.