BoJ board member Junko Nakagawa said “for the time being, inflationary pressure will remain strong, mainly for energy, food and industrial goods.” Core consumer prices may “briefly rise close to 2%.”
However, “even if that happens, what’s important is to scrutinise the factors and whether Japan’s economic fundamentals are strong enough to make such price rises sustainable,” she said.
“Global financial markets remain jittery due to escalating tensions in Ukraine. We’re monitoring changes in developments carefully,” she added.
