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FX.co ★ BoJ Koeda Flags Inflation Risks from Rising Rice Prices

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typeContent_19130:::2025-07-09T01:27:24

BoJ Koeda Flags Inflation Risks from Rising Rice Prices

Bank of Japan board member Junko Koeda has expressed a vigilant approach towards assessing the potential spillover effects on core inflation stemming from recent increases in the prices of rice and other food items, as reported by Bloomberg News. In a Monday interview, Koeda highlighted that it remains premature to determine when the central bank might recommence raising interest rates amidst ongoing economic unpredictability. "Recent hard data on inflation indicates that prices of rice and other food items have surpassed expectations since the BoJ's May meeting, prompting me to monitor developments closely," she stated. Although current consumer inflation, fueled largely by cost-push factors in the food sector, is at approximately 3%, the BoJ's weighted median inflation measure continues to fall short of its 2% target. Nevertheless, Koeda stressed that she remains attentive to how escalating rice prices could impact household inflation expectations and the underlying inflation rate.

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