WASHINGTON – The chief of the International Monetary Fund's Japan mission, Ranil Salgado, believes the yen's recent rapid slide could hamper the pandemic-stricken Japanese economy from returning to steady growth due to rising import costs and less consumer spending.
The yen's drop to a 20-year low against the dollar last week is a reflection of the Bank of Japan's decision to maintain loose monetary easing while the central banks of other major economies are tightening, Salgado said in a recent written interview.
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