The Japanese Bank does not expect a sharp inflation acceleration

Haruhiko Kuroda, head of the Central Bank of Japan, assessed the situation that is observed in the national economy. He, in particular, said that a significant acceleration in the growth of consumer prices shortly should not be expected. For inflation to approach the target value of 2%, it is necessary to achieve sustainable wage growth. Japanese households are suffering difficulties due to the rise in prices of specific goods and services. There are significant fluctuations in quotations on the commodity markets. However, this condition of the markets is usually temporary. In this regard, the Bank of Japan does not see the need to take any proceeding. Haruhiko Kuroda said that soft monetary policy had a constructive impact on the Japanese economy. It helped the country’s business to increase profits. Haruhiko Kuroda also said that adjustments to the Central Bank policy, most likely, will not happen before the end of its term.

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Arseny Kudrin

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