Bank of Japan board member Kataoka
- Japan's economy picking up as a trend but downward pressure to heighten
- risks to economy skewed to downside due to pandemic impact, geo-political risks
- risks to price outlook skewed to upside due to rising commodity costs
- BOJ ready to take appropriate steps as needed with eye on pandemic impact on economy
- says CPI may briefly exceed 1.5% and could accelerate further, depending on moves in the price of oil
- my view is that such a rise in inflation will not last and will not gain enough momentum to hit the BOJ's target
