BOJ chief retracts price tolerance remark amid criticism

Politics Economy

Bank of Japan Governor Haruhiko Kuroda on Wednesday retracted a controversial remark claiming consumers had become "tolerant" of rising prices, after facing criticism from lawmakers and consumers. Speaking during a parliamentary session, Kuroda said his remark Monday at an event organized by Kyodo News did not mean that households had begun to accept rising prices. "The expression was utterly inappropriate," Kuroda told the session, a day after offering a rare apology as BOJ chief for his statement. "I retract it." He added, "It is true that we use the word 'tolerance' at the BOJ. But we don't...

Kyodo News

Kyodo News Bank of Japan