April 10, 2024 03:17 GMT
MNI BRIEF: Higher Import Prices To Drive Policy - BOJ's Ueda
(MNI) Tokyo
(MNI) TOKYO
Bank of Japan Governor Kazuo Ueda said on Wednesday the BOJ would consider monetary policy change should the risk of the underlying inflation rate rising above 2% increase due to higher import prices driven by the weak yen.
Ueda told lawmakers that the BOJ has no plan to adjust monetary policy directly immediately after foreign exchange rates moves.
Ueda, however, added that the bank would need to change monetary policy if the wage-price virtuous cycle strengthens more than expected and the risk of higher underlying inflation rate above 2% increased. (See MNI POLICY: April Services Data Key For Further BOJ Rate Move)
Keep reading...Show less
101 words