- Ex-Dutch football star Johan Neeskens dies
- Man Utd battling to improve fortunes, says Evans
- What is microRNA? Nobel-winning discovery explained
- Masood, Abdullah centuries lift Pakistan to 328-4 in first England Test
- Hurricane Milton strengthens fast, threatens Mexico, Florida
- Tunisia's President Saied set for landslide election win
- Barca hoping to return to Camp Nou 'by end of year'
- Trump to open second golf course at Scotland resort in summer 2025
- Super-sub Jhon Duran rewarded with new Aston Villa deal
- US duo win Nobel for gene regulation breakthrough
- Masood hits first ton for four years to power Pakistan to 233-1
- Fritz wins delayed match to reach Shanghai Masters third round
- Naomi Osaka pulls out of Japan Open with back injury
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Artist Marina Abramovic hopes first China show offers tech respite
- Asian markets track Wall St rally on US jobs data
- Pakistan 122-1 at lunch in first England Test
- Kazakhs approve plan for first nuclear power plant
- World marks anniversary of Oct. 7 attack on Israel
- 'Second family': tennis stars hunt winning formula with new coaches
- Philippines, South Korea agree to deepen maritime cooperation
- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
- Japan govt admits doctoring 'untidy' cabinet photo
- Israel marks first anniversary of Hamas's October 7 attack
- Darvish tames Ohtani as Padres thrash Dodgers
- Asian markets track Wall St rally on jobs data
- Family affair as LeBron, Bronny James make Lakers bow
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- As Great Salt Lake dries, Utah Republicans pardon Trump climate skepticism
- Amazon activist warns of 'critical situation' ahead of UN forum
- Mourners pay tribute to latest victims of deadly Channel crossing
- Tunisia incumbent Saied set to win presidential vote: exit polls
- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- AC Milan fall at Fiorentina after De Gea's penalty heroics
- Lewandowski treble for leaders Barca as Atletico held
- Fresh Israeli strikes hit south Beirut
- Sucic stunner earns Real Sociedad draw against Atletico
- PSG draw with Nice, fail to reclaim top spot in Ligue 1
- Gudmundsson downs AC Milan after De Gea's penalty heroics for Fiorentina
- 'Yes' vote prevails in Kazakhstan nuclear plant vote: TV
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Lewandowski hat-trick powers Liga leaders Barca to Alaves victory
- 'Nothing gets in way of team,' says Celtics' MVP hopeful Tatum
- India maintain Pakistan stranglehold as Windies cruise at Women's T20 World Cup
- 'We will win!': Mozambique's ruling party confident at final vote rally
CMSC | -0.02% | 24.695 | $ | |
SCS | -1.35% | 12.797 | $ | |
BTI | -0.23% | 35.21 | $ | |
GSK | 0.51% | 39.02 | $ | |
RIO | -0.07% | 69.65 | $ | |
CMSD | -0.11% | 24.785 | $ | |
NGG | -0.96% | 65.87 | $ | |
BP | 0.9% | 33.18 | $ | |
AZN | -0.16% | 77.35 | $ | |
RYCEF | 0% | 6.98 | $ | |
BCE | 0.04% | 33.725 | $ | |
RBGPF | -1.16% | 60.1 | $ | |
BCC | -1.58% | 136.738 | $ | |
RELX | -0.9% | 45.875 | $ | |
JRI | -0.15% | 13.26 | $ | |
VOD | 0.22% | 9.681 | $ |
Bank of Japan says no tightening as oil stirs inflation
Japan's central bank chief said on Friday the country will likely reach its key two-percent inflation target as oil rates surge, but the bank will continue monetary easing policies because the price rises are caused by external factors.
The Bank of Japan has struggled to lift inflation for nearly a decade with the world's third-largest economy swinging between periods of sluggish inflation and deflation, both considered bad for growth.
"Unlike in the US and Europe, inflation is currently at around 0.6 percent, and is likely to rise to about two percent after April," BoJ governor Haruhiko Kuroda told reporters following a two-day policy meeting.
"Most of the rise in prices will be caused by increases in international commodity supplies, energy, and food import prices, so naturally it is not necessary or appropriate to tighten monetary policy."
The United States Federal Reserve raised its benchmark interest rate on Wednesday for the first time since 2018 in a bid to tackle soaring inflation.
Kuroda said consumption in Japan is expected to further recover from a pandemic dip as the government lifts restrictions -- which mainly require restaurants and bars to limit opening hours -- in Tokyo and elsewhere on Monday.
Japan's core consumer prices, which exclude volatile fresh food, rose 0.6 percent in February from a year earlier, government data showed Friday.
The internal affairs ministry said the rise was driven by food prices and utility bills due to a surge in energy costs linked to the Ukraine crisis.
It met market expectations as the sixth straight monthly gain, and the sharpest rise since February 2020.
The BoJ's target of sustained two-percent inflation is seen as key to spurring healthy economic growth in Japan.
But analysts say that even if the target is hit in the coming months, it is unlikely to last.
"Once the energy-price shock and deterioration in terms of trade is gone, prices will decline again," Shigeto Nagai of Oxford Economics told AFP ahead of the BoJ meeting.
Excluding energy prices as well as fresh food, Japan's consumer prices were down 1.0 percent in February, the 11th straight monthly fall, the ministry said.
J.Oliveira--AMWN