Japan: 2008 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
July 29, 2008
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This 2008 Article IV Consultation highlights that Japan’s external position remains strong. The current account surplus rose to 4.8 percent of GDP in 2007 on the back of strong external demand and a further surge in investment income. Money markets remain relatively stable owing to the banking system’s lower exposure to subprime and other securitized products and the increased amounts and frequency of the Bank of Japan’s (BoJ) liquidity operations. The near-term economic outlook is for a soft landing, although there remain risks from the global economy.
Subject: Banking, Expenditure, Financial institutions, Fiscal policy, Fiscal stance, Income, Inflation, National accounts, Pension spending, Prices, Securities
Keywords: CR, Fiscal stance, GDP, Global, headline CPI inflation, headline inflation, Income, Inflation, inflation risk, ISCR, liquidity operations, Pension spending, price, regime, Securities, upside risk
Pages:
48
Volume:
2008
DOI:
Issue:
253
Series:
Country Report No. 2008/253
Stock No:
1JPNEA2008001
ISBN:
9781451948530
ISSN:
1934-7685
