“QQE hasn’t had as big an impact on the Japanese economy as was hoped for” – IMF’s Shinohara

FXStreet (Mumbai) - In an interview with the Wall Street Journal (WSJ), Naoyuki Shinohara, deputy managing director of the International Monetary Fund (IMF) said that Japan's central bank may need to consider further monetary easing as the ultra massive QQE hasn't had as big an impact on the economy as was expected.

Key Points from WSJ:

“Depending on the future economic situation, additional monetary easing will probably have to be considered,"
Qualitative and Quantitative Easing (QQE) “hasn’t had as big an impact on the Japanese economy as was hoped for”,

“Japan has limited policy options,”

“Monetary easing and structural reforms are indispensable policy tools.”

Calling the yen "slightly devalued", he claimed that the currency's sharp devaluation, which was partly due to the central bank’s massive monetary easing, hasn’t given much boost to Japanese exports.