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OECD backs Tokyo's monetary-easing move

It says Japan should keep up its QE actions until the country has achieved its inflation targets

Tokyo

THE dramatic monetary easing moves by the Bank of Japan (BOJ) a week ago have been endorsed by the Paris-based Organisation for Economic Co-operation and Development (OECD) ahead of the G-20 summit, where some expect Tokyo to come under attack for currency depreciation.

The OECD said in a special issue of its Economic Outlook ahead of the summit that while the US should allow policy rates to begin rising from mid-2015, the BOJ, in contrast, should continue its monetary quantitative easing (QE)...

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