IMF welcomes rate decision

WASHINGTON — A senior IMF official yesterday welcomed the decision by the Bank of Japan to end an era of zero interest rates, after the central bank announced its first interest rate rise in almost six years.

By (AFP)

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Published: Sat 15 Jul 2006, 10:39 AM

Last updated: Sat 4 Apr 2015, 3:10 PM

“We consider that the modest removal of accommodation is an appropriate move towards a more neutral monetary stance, and is consistent with sustained noninflationary growth,” said Daniel Citrin, the IMF’s Asia and Pacific Department deputy director and mission chief for Japan.

“Going forward, further removal of accommodation would appropriately be gradual, in light of the low risk of an upsurge in inflation,” Citrin said.

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