BOJ Governor Ueda Warns of Rising Oil Prices

Apr 13, 2026 | News On Japan

TOKYO - Bank of Japan Governor Kazuo Ueda warned on April 14th that rising crude oil prices driven by escalating tensions in the Middle East could act as a drag on Japan’s economy, signaling growing concern within the central bank over external cost pressures.

In a speech delivered at a trust banking conference in Tokyo, Ueda said the recent increase in oil prices “could become a factor that pushes down the economy,” reflecting the potential impact of higher energy costs on corporate activity and household spending.

At the same time, Ueda noted that the effect on Japan’s underlying inflation trend could move in either direction, stating that the impact “may work both upward and downward” depending on how cost pressures are passed through to prices.

He added that in recent years, companies have become more proactive in setting wages and prices, suggesting that “the mechanism driving price increases may be strengthening compared to the past,” and emphasized the need to closely monitor these evolving dynamics.

Source: テレ東BIZ

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