BOJ's Kataoka: Risks to the economy are skewed to the downside

Japan's economy picking up as a trend but downward pressure to heighten.

Risks to economy skewed to downside due to pandemic impact, geopolitical risks.

Risks to price outlook skewed to the upside due to rising commodity costs.

BOJ is ready to take appropriate steps as needed with an eye on the pandemic impact on the economy.

CPI may briefly exceed 1.5% and could accelerate further, depending on moves in the price of oil.

My view is that such a rise in inflation will not last and will not gain enough momentum to hit the BOJ's target.

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