## Japan: 2016 Article IV Consultation-Press Release; and Staff Report

_IMF Staff Country Reports, August 2, 2016_

## Source details

**Canonical URL:** [Japan: 2016 Article IV Consultation-Press Release; and Staff Report](https://www.imf.org/en/publications/cr/issues/2016/12/31/japan-2016-article-iv-consultation-press-release-and-staff-report-44158)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/japan-2016-article-iv-consultation-press-release-and-staff-report-44158/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/japan-2016-article-iv-consultation-press-release-and-staff-report-44158/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/japan-2016-article-iv-consultation-press-release-and-staff-report-44158/bundle-manifest.json)

## Bibliographic details
- Published: August 2, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475522105.002

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### Growth and macroeconomic developments
- Economic growth of Japan has slowed owing to weak private consumption and sluggish investment.
- The outlook for growth remains subdued.

### Inflation and financial conditions
- Inflation has lost its forward momentum.
- Financial conditions remain accommodative, but:
  - falling stock prices and
  - the appreciation of the yen
  have resulted in a modest tightening.

### Projections and near-term outlook
- The economy is expected to expand at a moderate pace of about 0.3 percent in 2016, before slowing to 0.1 percent in 2017.
- Projection caveat: these figures are excluding the possible effect of the yet-to-be-adopted economic stimulus package.

### Analytical focus and thematic areas (as listed)
- Banking
- Fiscal consolidation
- Fiscal policy
- Income
- Inflation
- Inflation targeting
- Monetary policy
- National accounts
- Prices

### Keywords highlighted by the report
- Asia and Pacific
- BoJ's resolve
- Brexit referendum
- CR
- Europe
- Fiscal consolidation
- fiscal policy response
- Global
- Income
- Inflation
- Inflation targeting
- ISCR
- JGB yield curve
- money market rate
- USD basis
- yen

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- **Cr16267**
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/japan-2016-article-iv-consultation-press-release-and-staff-report-44158_