IMF's Lipton says it's premature for BOJ to talk about policy normalisation

IMF's Lipton talking again in Tokyo a short while ago. 19 June

• switch in strategy to yield curve control is useful and sustainable
• Japan inflation to reach 1-1.5% range in a few years if back by all 3 arrows of Abenomics
• IMF feel very strongly that BOJ should maintain 2% inflation target
• 3rd arrow should be strengthened to bring 2% inflation

Earlier the IMF issued a report on Japan here

USDJPY still trading around 111.00 after the earlier fail above 111.20

"Keep smiling - They're falling for it "