BoJ Governor Haruhiko Kuroda said in a speech today that the economy was expected to pick up on improvement in consumption and robust overseas demand. “The outlook, however, remains highly uncertain due to the impact of the pandemic, as well as developments regarding Ukraine and the impact on commodity prices,” he warned.
Additionally, “recent rising inflation, driven by higher import costs, weighs on Japan’s economy by reducing households’ real income and corporate profits,” Kuroda said. “BOJ will underpin economy’s recovery from pandemic by patiently sustaining current powerful monetary easing.”
