BOJ Gov Kuroda: Global commodity prices more than weak yen pushing up Japan consumer CPI

more to come

Bank of Japan Governor Kuroda:

  • global commodity price rise is much bigger factor than weak yen in
    pushing up japan’s consumer inflation
  • main firms are still reluctant to pass
    on rising costs to consumers, as seen in modest rise in consumer
  • must create cycle in which rising corporate
    profits, expansion in economy leads to rises in both prices and wages
  • BOJ will continue easy monetary policy so
    economic recovery pushes up wages and leads to gradual rise in
    consumer inflation
  • must continue current easy policy while keeping
    eye out on risk inflation accelerates before wages start to rise

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