Tokyo, March 19 (Jiji Press)–Bank of Japan Governor Kazuo Ueda said Thursday that the central bank will examine how higher crude oil prices would put downward pressure on the domestic economy. The governor made the comment in a press conference held after a two-day BOJ Policy Board meeting that ended Thursday. The board voted eight to one to maintain the policy of guiding the unsecured overnight call rate, Japan’s benchmark short-term interbank lending rate, to around 0.75 pct. Asked why the central bank did not raise the policy rate, Ueda said that the BOJ “placed importance on a newly emerged risk scenario stemming from a rise in crude oil prices.” END [Copyright The Jiji Press, Ltd.]
BOJ to Assess Impact of Higher Crude Oil Prices: Gov. Ueda
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