• Cannot sustain 2% inflation on cost-push inflation alone
  • BOJ seeks to achieve situation where inflation rises moderately in tandem with increase in corporate profits, wages
  • Inappropriate to tighten policy, withdraw stimulus even if energy, commodity costs push up inflation
  • Inflation expectations, wage growth remain subdued, which means cost-push inflation will have negative economic impact

Some token remarks there by Kuroda but yes, perhaps we can expect inflation pressures to creep a little higher in Japan considering the global energy market situation right now. That said, it will do little to really convince the BOJ to steer away from their current policy stance surely.