High oil prices may hit Japan’s economy, spur inflation as bank tries to normalize policy
The Bank of Japan is committed to raising interest rates, but the Middle East conflict and rising energy prices have made such a move more complicated. (Photo by Miki Kamiyama)
TOKYO — The Bank of Japan is widely expected to hold its policy rate at 0.75% during next week’s monetary policy meeting, but rising energy prices and market volatility stemming from the Iran war have the central bank on guard.