Japan Interest Rate

Uncertainty over the economic outlook in Japan was heightening, with recent monetary tightening by major central banks slowing global growth, Bank of Japan Governor Haruhiko Kuroda said in a speech. "We must be mindful of the fact that downside risks are high," he said, adding that the central bank will continue to support the economy with ultra-loose monetary policy. Regarding prices, Kuroda mentioned the impact of global inflation has spilled over to Japan. Current price rises in the country are more likely to be the result of high costs that mainly stem from high commodity prices and currency depreciation, rather than a rise in domestic demand. Unless international commodity prices continue to rise in the future, such upward pressure from high costs on prices is projected to gradually decrease from the beginning of 2023. On a weak yen, the governor said that rapid currency moves were undesirable as they would have a negative impact on the economy and that the central bank