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- BoJ Kazuo Ueda: Risk of rise in inflation driven by lost of market trust in Japan's finances low for now
BoJ Kazuo Ueda: Risk of rise in inflation driven by lost of market trust in Japan's finances low for now
Bank of Japan´s governor Kazuo Ueda is speaking in Parliament and the following comments are coming across the wires:
Key comments
Monetary easing is not aimed at funding government spending.
Consideration towards govt's debt-financing cost won't constrain necessary monetary policy moves.
Dealing with cost-push inflation with monetary policy is very difficult, it's about striking balance between need to curb inflation and supporting economy.
Cost-push inflation driven by rising raw material costs seems to be subsiding in Japan.
Risk of rise in inflation driven by lost of market trust in Japan's finances low for now.
In general, dealing with cost-push inflation is very difficult for central banks. On the one hand, you'd like to curb inflation. On the other hand, you don't want to tighten monetary policy knowing that cost-push inflation will cool the economy." Ueda told parliament.
"Striking the right balance is very difficult. It depends on economic developments at the time, including where inflation stood at the outset."
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