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BOJ’s Kataoka says weak yen positive for economy -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Goushi Kataoka, a new member of the Bank of Japan’s policy committee attends a press conference held at Tokyo’s BOJ Headquarters on July 25, 2017. REUTERS/Issei Kato

TOKYO, Reuters – Goushi Kataoka (Board of Japan) said Thursday that a weak yen is a positive thing for the economy. However, rising import prices will likely cause very little damage.

Japan might see consumer inflation rise to 1.5% over a longer period of time due to technical issues, but the economy will not experience stagflation, as the recovery from the COVID-19 pandemic is underway, he said at a press conference.

(In the headline this story, Kataoka was correct, but Kuroda).

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