Bank Japan Governor Ueda says cost-push inflation factors likely to gradually dissipate ...Middle East

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Bank Japan Governor Ueda says cost-push inflation factors likely to gradually dissipate
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Bank of Japan Governor Ueda

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    Recent high inflation due largely to lagged effect of past rises in import costs, recent acceleration in food price risesSuch cost-push factors likely to gradually dissipateUnderlying inflation likely to gradually converge towards our 2% target even when temporary boost from food inflation disappearsThere is uncertainty on whether food, rice prices will fall but on year-on-year basis, pace of increase likely to slow aheadUnderlying inflation is still somewhat below 2%We have yet to sufficiently achieve our price target

    Ueda was on the wires earlier:

    Bank of Japan Governor Ueda says expects underlying inflation to accelerate gradually

    JPY is showing a touch of weakness on these latest remarks from ueda:

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

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