more to come

Bank of Japan Governor Kuroda:

  • global commodity price rise is much bigger factor than weak yen in pushing up japan's consumer inflation
  • main firms are still reluctant to pass on rising costs to consumers, as seen in modest rise in consumer inflation
  • must create cycle in which rising corporate profits, expansion in economy leads to rises in both prices and wages
  • BOJ will continue easy monetary policy so economic recovery pushes up wages and leads to gradual rise in consumer inflation
  • must continue current easy policy while keeping eye out on risk inflation accelerates before wages start to rise
Bank of Japan Governor Kuroda