BOJ chief makes rare apology for remark on price hike tolerance

Economy

Bank of Japan Governor Haruhiko Kuroda made a rare apology Tuesday for saying at an event the previous day that consumers have become more "tolerant" of price hikes, following criticism that the remark was inappropriate. "I did not mean that consumers are voluntarily accepting the price increases. I apologize if my words led to a misunderstanding," he told reporters at the prime minister's office. Kuroda clarified that he made the comments in the context of the "growing need for wage increases" and that he rather felt consumers are "being forced to accept the price hikes as a painful choice." ...

Kyodo News

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