BOJ’s Kuroda rules out policy tightening to address cost-push inflation

From brecorder.com

Bank of Japan Governor Haruhiko Kuroda on Tuesday ruled out the chance of tightening monetary policy or withdrawing stimulus to deal with any rise in inflation driven by soaring fuel costs, stressing the need to wait for wage growth to pick up. The crisis in Ukraine pushed oil prices to 14-year highs, heightening the chance consumer inflation will approach the central bank’s 2% target as early as next month. But with inflation expectations and wage growth still low, rising energy and commodity costs would have a negative impact on Japan’s economy, Kuroda told parliament, when asked how the BOJ could respond if ... (full story)