TOKYO – Bank of Japan Governor Kazuo Ueda said Wednesday he will closely watch the impact on the Japanese economy of the conflict in the Middle East and rising oil prices, while reiterating that the central bank will continue raising its key policy rate unless prices and economic activities show unexpected movements.
In a Diet committee session, Ueda said there is a possibility that oil prices, which have been rising sharply, could have a “significant impact” on the Japanese economy, such as by accelerating inflation.
AloJapan.com