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MNI BRIEF: BOJ's Adachi Sees Inflation Up, But No Stagflation

MNI (Tokyo)
TOKYO (MNI)

Recent yen movements do not indicate an "unhealthy" yen depreciation.

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Bank of Japan board member Seiji Adachi on Wednesday said that there is higher probability that the inflation rate will rise in Japan but no risk of stagflation.

Adachi pointed out changes in corporate price-setting, an improvement in growth prospects for companies and persistent high energy prices. “I think that the economy is far from stagflation, both now and down the road,” Adachi told business leaders in Oita City.

“I do not believe that recent exchange rate movements indicate a situation of ‘unhealthy’ yen depreciation that could lead to stagflation,” he added.