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Sanjaya Panth, Deputy Director of IMF's Asia and Pacific Department, indicated that Yen's depreciation this year is primarily driven by fundamental factors, particularly interest rate differentials. He opined that current Yen dynamics don't necessitate intervention. Although Japan's inflation outlook is optimistic, Panth advises against immediate short-term rate hikes by BoJ due to global demand uncertainties. Instead, he suggests BoJ focus on enhancing flexibility of long-term interest rates.

Sanjaya panthPacific departmentDeputy director