BoJ Governor Ueda says G20 discussed impacts of Middle East on prices and on the global economy, adds many said the Middle East is an important factor and remains uncertain
Governor Ueda's comments highlight the Bank of Japan's ongoing concerns about inflation, particularly in the face of rising oil prices driven by geopolitical tensions.
Japan's Economy Minister Akazawa says Toto (5332 JT) and other equipment makers are resolving bottlenecks
PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCKS NEWS: Earnings from Alcoa & Zip; Samsung Electronics (005930 KS) filed for a court injunction in connection with potential collective action by its labour union
BoJ Governor Ueda says G20 discussed impacts of Middle East on prices and on the global economy, adds many said the Middle East is an important factor and remains uncertain
Japanese Finance Minister Katayama says Japan Bank for International Cooperation is to establish new investment window of up to JPY 600bln to assist Asian nations in securing energy supplies
US President Trump posts "I hope Hezbollah acts nicely and well during this important period of time. It will be an GREAT moment for them if they do. No more killing. Must finally have PEACE!"
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Says:
- Supply shock-driven inflation is harder to tackle than demand-driven.
- Rising oil prices put upward pressure on underlying inflation, but worsen Japan's terms of trade and weigh on the economy.
- Monetary conditions remain highly accommodative and Japan's real interest rate is low.
- BoJ will decide policy based on likelihood of forecast materialising and risk at each meeting.
- Declines to comment on falling market expectations for an April rate hike.
The emphasis on supply shock-driven inflation suggests a cautious approach for monetary policy, indicating that any potential tightening could be contingent on evolving economic conditions and risks rather than a predetermined timeline.
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