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MNI BRIEF: BOJ Kuroda: Cost-Push Prices Won't Meet Target Aims

(MNI) Tokyo

Bank of Japan Governor Haruhiko Kuroda said on Tuesday that price rises caused by cost-push factors will lower real purchasing power for households and cut corporate profits and will not lead to the 2% price inflation target in a sustainable manner.

Crude oil price and grain prices are up sharply on the Russian invasion of Ukraine, but inflation expectations and wages are still at low levels, Kuroda told lawmakers. “Under the existing conditions, it isn’t appropriate for the BOJ to unwind easy policy,” Kuroda said.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
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MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
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