The International Monetary Fund issues a triple warning to Japan

The International Monetary Fund (IMF) released a report on February 17, warning the Japanese government to maintain the independence of the Bank of Japan, control fiscal expansion, and avoid addressing social issues by cutting the consumption tax. The report was issued coinciding with Japan’s prime ministerial nomination election. It is reported that the market is closely watching whether Sanae Takaichi will oppose further interest rate hikes by the central bank, as well as her previous commitment to a two-year “zeroing out of the food consumption tax.” (CCTV News)