IMF Deputy Chief Expects Bank of Japan to Continue Advancing Monetary Policy Normalization

```htmlThe second-in-command of the International Monetary Fund (IMF) stated that Japan's economic recovery is creating conditions for the Bank of Japan to continue with policy normalization after maintaining an ultra-loose monetary policy for decades. IMF First Deputy Managing Director Dan Katz said that Japan is undergoing a "profound long-term transformation," and the structural reforms initiated by former Prime Minister Shinzo Abe are only now beginning to show results. In an interview in Cape Town on Thursday, Katz remarked: "The Bank of Japan has started to move away from the near 30-year environment of ultra-low interest rates, advancing monetary policy normalization." Before joining the IMF last year, Katz served as Chief of Staff at the U.S. Department of Treasury. He said he expects "the Bank of Japan will take all necessary measures to fulfill its mission, which is to achieve its goals regarding inflation, while also supporting economic growth." When asked what measures the Bank of Japan still needs to take to support the yen, Katz replied: "Inflation remains slightly above the target level, so I expect normalization will continue to advance."```