URGENT: BOJ chief says no need, not appropriate to tighten policy

Economy

The Bank of Japan does not see any need to tighten monetary policy as a recent pickup in inflation is largely due to surging crude oil and commodity prices, Governor Haruhiko Kuroda said Friday. The impact of the yen's weakness on inflation is "extremely small," Kuroda said at a press conference, adding that powerful monetary easing will remain necessary even if Japan sees its core consumer inflation rising around 2 percent in April or later. Kuroda also said a wider gap between Japanese and U.S. or European interest rates should not immediately lead to a weaker yen.

Kyodo News

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