Bank of Japan Governor Kuroda comments from earlier:
Adding more now:
- Japan's economy continues to pick up as a trend
- BOJ must continue to support economy's recovery from pandemic with powerful monetary easing
- expected rise in inflation is driven mostly by energy costs, lacking sustainability
- we aren't seeing signs of sharp rise in medium-, long-term inflation expectations in japan
- we will seek to achieve 2% inflation sustainably, stably by creaing cycle in which rising wages push up households' real income
- covid pandemic continues to exert downward pressure on economy
- recent rise in commodity prices is hurting economy by reducing real income
Japan's inflation situation is completely different from that of US, Europe
uncertainty regarding economic outlook heightening sharply
in times like now when uncertainty is high, central banks must conduct monetary policy by examining various data broadly without any preset idea
there is risk Ukraine crisis could hurt global economy further, trigger sharp volatility in commodity prices
there is risk markets, including forex, could destabilise as advanced economies accelerate withdrawal of stimulus
must be mindful that sharp fx volatility would hurt economy
BOJ will carefully watch impact of market volatility on economy, prices
short-term inflation expectations among households, firms, market participants are clearly heightening
more to come