- but will gradually increase
- price gains to pick up in 2nd half of fiscal 2014 ending in March 2015
- prices rising for broad range of good in Japan. not just for good affected by fx moves
- sees higher chance of US economic growth overshooting rather than undershooting
- April sales tax hike hasn’t changed his view on whether price growth will accelerate more than expected
- prices moving in line with BOJ time frame
- can’t ignore impact of crude oil prices on Japan’s economy and CPI but need to distinguish between short and long term effects
- must closely watch geo-political risks from Iraq
USDJPY still 101.90
