TOKYO - Bank of Japan Governor Kazuo Ueda said Wednesday he will closely monitor the impact of the conflict in the Middle East and rising oil prices on the Japanese economy, reiterating that the central bank will continue to raise its key policy rate unless there are unexpected movements in prices and economic activity.
In a Diet committee session, Ueda said that the developments in the Middle East could have a "significant impact" on the Japanese economy due to rising oil prices and their effect on financial markets.
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