IMF says yen’s rapid slide may hamper Japan’s post-pandemic recovery

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Kyodo News

The chief of the International Monetary Fund’s Japan mission believes the yen’s rapid recent slide could hamper the pandemic-stricken Japanese economy from returning to a steady growth pathway by raising import costs and hurting consumer spending. The yen’s drop to a 20-year low against the dollar last week is a reflection of the Bank of Japan’s decision to persist with its loose monetary easing settings when central banks in other major economies are tightening, Ranil Salgado said in a recent written interview with Kyodo News. Still, the IMF Japan mission chief said the Japanese central bank …

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