PARIS – The Organization for Economic Cooperation and Development urged the Bank of Japan on Wednesday to establish a new framework — including inflation objectives — so clearer signals can be given to the markets about how it will respond to changes in the economy.
“The challenge will be to set a new framework, which will signpost how monetary policy will react as the economy exits from the serious post-bubble crisis,” the OECD said in its annual economic survey of Japan, which includes both assessments and recommendations.
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