yahoo.com
Jul 24, 2008
AOMORI, Japan, July 24 (Reuters) - The fog hanging over Japan's economy is unlikely to clear any time soon, Bank of Japan Policy Board member Atsushi Mizuno, seen as one of the board's most hawkish members, said on Thursday. Rises in energy and raw material prices have had a far larger impact both on the economy and prices than the BOJ had expected when it drew up half-yearly economic forecasts in April, Mizuno said in a speech to business leaders in Aomori, northern Japan. He also said in a news conference that he was more concerned about downside risks to the economy than about inflation. Following are key comments from the speech and at a news conference: MONETARY POLICY "My personal view is that downside risks to domestic demand are heightening due to a rise in energy and raw material prices. Prices are rising but we are...
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