BOJ's Nakagawa speaks on one-sided yen falls


Bank of Japan monetary policy board member Nakagawa:

  • One-sided
    yen falls subsided somewhat but rising import prices could affect
    consumer inflation with a lag
  • Prolonged
    inflation overseas could put upward pressure on Japan’s import prices
  • Must
    be mindful of impact of overseas, domestic market moves on Japan’s
    inflation
  • Japan’s
    exports, output likely to resume uptrend as overseas economies
    sustain moderate growth
  • Wage
    growth likely to accelerate as a trend reflecting rising prices
  • Consumption
    likely to increase moderately reflecting higher wages, albeit being
    affected by rising prices for time being
  • Expect inflation to gradually accelerate as a trend
  • Achievement of wage-inflation is in sight

Yen gaining:

This article was written by Eamonn Sheridan at www.forexlive.com.