TOKYO (Reuters), Haruhiko Kunroda, Bank of Japan Governor, said the dollar’s movements will not be affected too much by U.S. rates hikes unless it is faster than expected. According to a Wednesday recording of an interview conducted by Financial Times Online.

Kuroda indicated that the U.S. Federal Reserve had made “quite obvious” its desire to raise interest rates. This has been well priced by markets.

He said that “unless the Fed raises interest prices faster than, and more than, what their forward guidance indicates, the dollar rates may not be as affected by (U.S.–Japanese] interest rate differentials.”

Kuroda stated that he doesn’t expect China’s COVID-19 locksdowns to have any long-term effect on Chinese or global economic growth. Any fallout will likely be short-term.