ICYMI - IMF says the Bank of Japan is facing challenges ensuring price stability

International Monetary Fund (IMF) Chief Economist Pierre-Olivier Gourinchas spoke on Tuesday (US time).

He had remarks on the Fed posted earlier:

• IMF expect only one Fed rate cut this year

and the IMF published its latest growth forecasts on Tuesday:

• IMF leaves 2024 global growth forecast unchanged, bumps 2025 GDP

Gourinchas also spoke on Japan, concerned on short term inflation but seems a little more confident gfurhter out:

• Bank of Japan faces challenge in ensuring price stability in short-to-medium term
• Cuts Japan 2024 economy growth forecast to 0.7% from 0.9% projected in April on auto disruptions.
• Strong outcome of wage talks likely to support turnaround in Japan consumption in H2
• Wage growth with weak productivity gains may make it difficult for firms to moderate price increases.