Salem Radio Network News Sunday, May 29, 2022

Business

BOJ’s Kuroda says expected rise in inflation will lack sustainability

TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Friday an expected, near-term rise in inflation would lack sustainability as it will be driven mostly by energy costs, stressing the need to keep monetary policy ultra-loose.

“For inflation to heighten as a trend, Japan must see a shift from inflation caused by energy prices, to one that is driven by increasing corporate profits and wage growth,” Kuroda said in a speech.

(Reporting by Leika Kihara; Editing by Tom Hogue)

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