BOJ member sees strong inflationary pressure amid geopolitical risks

Economy

A Bank of Japan board member said Thursday inflationary pressure will likely remain "strong" in Japan due to higher raw material costs and soaring crude oil prices reflecting geopolitical risks caused by Russia's invasion of Ukraine. BOJ Policy Board member Junko Nakagawa said in a virtual meeting with business leaders in Kyoto, western Japan, that core consumer inflation may temporarily near the central bank's 2 percent target, adding that the sustainability of such upward momentum will be key. "Given the time companies take to pass on higher raw material costs to retail prices and crude oil ...

Kyodo News

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