Japan: 2008 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2008/253, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2008 Article IV Consultation highlights that Japan’s external position remains strong. The current account surplus rose to 4.8 percent of GDP in 2007 on the back of strong external demand and a further surge in investment income. Money markets remain relatively stable owing to the banking system’s lower exposure to subprime and other securitized products and the increased amounts and frequency of the Bank of Japan’s (BoJ) liquidity operations. The near-term economic outlook is for a soft landing, although there remain risks from the global economy.

Keywords: ISCR; CR; price; regime; GDP; upside risk; headline CPI inflation; liquidity operations; headline inflation; inflation risk; Inflation; Pension spending; Fiscal stance; Income; Securities; Global (search for similar items in EconPapers)
Pages: 48
Date: 2008-07-29
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