Bank of Japan Governor: Middle East situation, oil prices, and foreign exchange markets are the three major risk factors.
March 19th news: Bank of Japan Governor Kazuo Ueda stated that although the Japanese economy is still somewhat weak, it is recovering moderately and is expected to continue its moderate growth in the future. Regarding prices, he pointed out that it is difficult to measure the trend of CPI, and trend inflation will be even harder to interpret. However, influenced by upward pressure from rising oil prices, it is expected that in the latter half of the forecast period, the underlying inflation rate will gradually rise to a level consistent with the price target. He emphasized that if economic and price trends align with the forecast, the central bank will continue to raise policy interest rates based on improvements in the economy and prices, and mentioned that current real interest rates are significantly low. However, he also cautioned that risks affecting the Japanese economy and prices need to be closely monitored, including further developments in the Middle East situation, significant oil price increases, and developments in financial and foreign exchange markets. (Jinshe)
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