Kuroda said that Japan’s economy is gaining strength despite the recent sales tax hike. USD/JPY could rise if the BoJ will keep purchasing assets.
Padoan warned that quantitative easing would only have a limited impact on the European economy. EUR/USD could fall if the ECB will start purchasing assets.
Bullard called on the Federal Reserve to raise interest rates next year to prevent excessive inflation. EUR/USD could fall if interest rates increase.
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The European Central Bank may introduce quantitative easing in order to revive the economy. EUR/USD could fall if the ECB will start buying bonds.
Weale said that the Bank of England should maintain its stimulus program until wages improve. GBP/USD could fall if the BoE will keep purchasing assets.
The IMF urged Japan to raise the sales tax in order to reduce the country’s debt. USD/JPY could rise if the BoJ will raise its stimulus.
The IMF called on Japan to pursue further reforms in order to stimulate growth. USD/JPY could rise if further easing will be introduced.
IMF Endorses U.K. Monetary Policy
The IMF called on the Bank of England to maintain an expansionary monetary policy until the outlook for inflation improves. The Fund stated that an “accommodative monetary policy is appropriate for now, given weak inflation pressures” and added that “policy might need to be adjusted quickly if inflation takes off.”
BoE Governor Mark Carney has recently announced that “when we do begin to see increases in interest rates, they will be gradual and they will be limited.”
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