Economy

Japan Govt Spokesman Mum on Kuroda’s Remark on Price Hikes

REUTERS / File Photo
Bank of Japan Governor Haruhiko Kuroda speaks at a news conference in Tokyo, Japan, December 19, 2019.

Jiji Press

12:37 JST, June 7, 2022

Tokyo (Jiji Press)—Japan’s Chief Cabinet Secretary Hirokazu Matsuno on Tuesday refrained from commenting on Bank of Japan Governor Haruhiko Kuroda’s remark suggesting that households in the country are accepting higher prices.

In a speech in Tokyo on Monday, Kuroda said that “Japanese households’ tolerance of price rises has been increasing” as firms adopt an increasingly active price-setting stance.

“The government refrains from commenting” on the remark by Kuroda, Matsuno told a press conference Tuesday. “We need to be fully alert for downside risks for the economy, such as surges in prices of crude oil and other goods dampening consumption and corporate activities,” the top government spokesman said, showing the government’s plan to compile measures to tackle higher prices promptly.

At a separate press conference Tuesday, agriculture minister Genjiro Kaneko also stopped short of commenting on the BOJ governor’s remark in question.

“Consumers and farm producers are having a tough time due to higher prices of feed and flour as a whole, and my ministry is considering measures in response to the situation,” Kaneko said.