Japan warns oil price surge from Middle East war could push inflation higher

Japan warns oil price surge from Middle East war could push inflation higher

Malay Mail Online - Money·2026-03-20 15:00

TOKYO, March 19 — Japan’s central bank said today it expected inflation to increase because of the “recent rise in crude oil prices” caused by the Middle East war.

The Bank of Japan statement—in which it also said it had left its key interest rate unchanged at 0.75 per cent—came as the government began an emergency subsidy programme to drive down the cost of gasoline.

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