Sumary of BOJ’s Newest Board Member Sees Japan Inflation Creeping Up:
- Article content (Bloomberg) — The Bank of Japan’s newest board member said she’s seeing a gradual emergence of upward price trends in the country that bears close watching, even as the bank holds its monetary stimulus in place.
- Article content Higher energy costs have helped Japan’s key gauge of consumer prices edge up over the last two months for the first in more than a year, but the gains were a far cry from the price jumps confronting other economies and their central banks.
- “It’s true that we won’t hit our price goal through fiscal 2023, but the prices of processed foods and other things are rising due to foreign exchange rates and rising oil costs,” said Nakagawa, who was a top executive at Nomura Holdings Inc. before joining the BOJ.
- Article content “What’s most desirable,” she said, “is for the currency to reflect economic fundamentals and move in a stable manner because large volatility in short periods of time is hard to deal with.