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WASHINGTON - The Bank of Japan must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.
While a weak yen boosts exports, it has become a source of headache for Japanese policymakers, as it hurts consumption by pushing up imported fuel and food prices. "We are pretty confident about our expectations for a consumption revival," she said, adding that inflation was expected to reach the BOJ's 2% target in 2026 in a sustainable way.
"We are fully in agreement with the approach of the BOJ to be gradual and to analyze the data as it comes in," she added.
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