BoJ’s path to normalisation less certain with Iran conflict
Ueda suggests rate hikes will continue, but analysts point to a range of possible scenarios
The Bank of Japan’s governor Kazuo Ueda has said it will continue to raise rates if the economy develops in line with its forecasts, while also keeping a close eye on the unfolding conflict in the Middle East.
Ueda told Japan’s parliament today (March 4) that rising energy costs and market moves caused by developments in the Middle East could have a significant impact on both the domestic and global economies, Reuters reported. “Rising crude oil prices would worsen Japan’s terms of trade and hurt
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