IMF’s Shinohara: Strong dollar triggering yen weakening, which is part of natural FX market moves

Naoyuki Shinohara, deputy managing director of International Monetary Fund, interview in Washington and Headlines on Bloomberg:

• Doesn’t see need for more BOJ easing at this time
• Failure of Abenomics possible without wage growth, fulfillment of growth strategy
• IMF doesn’t see BOJ reaching target until 2017 or 2018
• BOJ ought to address gap between that and 2 yrs target
• BOJ should address timeframe “as soon as possible”
• BOJ should work on communications, make statement on timeframe that doesn’t disappoint market expectations, maintains bank’s credibility
• Strong dollar triggering yen weakening, which is part of natural FX market moves