Bank of Japan board member says it'll take some time to stably hit Japan's inflation target

  • Japan's economy likely to continue recovering as impact of pandemic, supply constraints eases
  • pandemic's impact on consumption, Ukraine crisis among key risks to Japan's economic outlook
  • if energy prices rise further, that will push up inflation but weigh on economy
  • Japan's core consumer inflation to accelerate to around 2% from April, may speed up further depending on global commodity price moves
  • Japan's worsening terms of trade driven by rising energy and raw material prices with weak yen playing very limited part
  • Japan is not experiencing the kind of high inflation seen in many other countries
  • trend inflation excluding energy factors remain very low in japan
  • most important for BOJ to maintain patiently sustain current monetary easing
  • it will take significant time for inflation to stably achieve boj's target
  • energy prices will likely remain elevated for some time, which could heighten sustainability of global inflation
  • global economy experiencing typical cost-push inflation, which hurts economic activity

more to come