FACTBOX-Recent comments by Bank of Japan officials

April 27 (Reuters) - Following are summaries of recent comments by BOJ and government officials.

BOJ GOVERNOR TOSHIHIKO FUKUI, April 27, at regular news conference:

"We cannot ignore short-term movements in prices, but what is more important for conducting monetary policy is how prices will move in the long run.

Even if they are weak in the near future, if we can confirm that the economy and prices are firm, then, unless we raise rates accordingly, we'll have an undesirable outcome in resource allocation and a volatile economy...

"If markets expect the BOJ to keep rates low even while the economy achieves 2.1 percent growth (as forecast by the BOJ), it could distort the BOJ's policy scenario."

We need to adjust interest rates despite near-term weak price growth, if we can confirm that long-term price moves are strong and the economy and prices are heading towards a good direction...

"If the economy moves in line with our scenario, we will adjust interest rates, not at a particular pace but in accordence with the pace of changes in the economy and prices.

This scenario is based on the view that markets are pricing in gradual rises in interest rates.

So if we are to hesitate to raise rates just because CPI is low, our scenario would become inconsistent..."

* Click on [ID:nT155545] for highlights of his remarks from the news conference.

FUKUI, April 17, in parliament:

"Monetary conditions remain very accommodative even after the (Feb rate hike) decision...

"Japan has emerged from a decade of difficult times and we are still in the midst of adjusting interest rates to a level that is truly desirable...

"The BOJ is in the process of raising rates gradually, albeit very cautiously."

FUKUI, April 16, in text of speech delivered to meeting of trust bank executives:

"The BOJ will continue to contribute to sustainable growth with price stability by guiding monetary policy appropriately while closely examining economic and price conditions."

SEIJI NAKAMURA, BOARD MEMBER, April 11, at news conference:

"Recently the pace of economic expansion has been moderate and I feel a gap exists between regions... There are many people who find it difficult to think that the economy is expanding.

"Prices are basically in an upward trend. But since prices have not risen, or have rather fallen for so long, there is a strong allergy (among the public) against price hikes. As such, I think prices will rise only gradually ahead.

HIDETOSHI KAMEZAKI, BOARD MEMBER, April 11, at news conference:

"The Japanese economy is moderately expanding...But the driving force is exports and capital spending. Household consumption isn't solid yet...

"It is imperative that consumption become the leading force of the economy...

"Wages are not rising in proportion to robust corporate earnings. But they will rise with a time lag, as we now see wage increases this year that had not been seen for some time.

"Meanwhile, job conditions are improving as companies' sentiment on labour shortages is increasing. This will also put an upward pressure on wages."

FUKUI, April 10, at regular news conference:

"While we make judgments on the sustainability of the economy and the possibility of price movements, we have to grasp the appropriate timing of rate adjustments if we need them...

"Leading indicators for capital investment in the United States show some weakness...Whether it is a temporary phenomenon or related to a process in which the productivity in the United States is slightly declining as some say, this is also another factor that we need to monitor."

BOJ DEPUTY GOVERNOR TOSHIRO MUTO, April 4, in a speech

"While we will maintain accommodative monetary conditions by keeping interest rates very low, we will gradually adjust them based on changes in the economy and prices...

"As we have said before, we have no predetermined schedule for future policy changes in mind...

"People use the term 'policy normalisation' in various ways. If that means to raise interest rates to a certain level, such as a neutral level, with pre-determined schedule, that's not what we are doing...

"With the basic mechanism working in a virtuous cycle of production, income and spending, the Japanese economy will continue to achieve a sustainable expansion that is above its potential growth rate this fiscal year..."