Rise in oil prices threatens to dampen Japan's economy: BOJ chief

TOKYO - Bank of Japan chief Kazuo Ueda said Thursday that the rise in oil prices stemming from the Iran war could dampen the Japanese economy.

At a news conference following the BOJ's two-day policy meeting, Ueda said oil prices could also boost inflation by driving up energy prices, stressing that developments in the Middle East conflict will be an "important point" in deciding the timing of future rate hikes.