June 19, 2014 / 5:31 AM / 6 years ago

BOJ's Morimoto: CPI to accelerate in second half of this fiscal year

AKITA Japan (Reuters) - Bank of Japan board member Yoshihisa Morimoto said on Thursday consumer inflation will accelerate from the latter half of the current fiscal year ending in March 2015, as prices are rising for a broader range of goods, reflecting an economic recovery.

Morimoto, however, said Japan’s exports are “somewhat weak recently” and “lacking momentum,” mainly due to sluggish demand in East Asian markets.

Upside risks for exports include the chance such Asian markets rebound, while downside risks point to the chance growth in the region slumps, he said.

“We need to look at both upside and downside risks, when looking at the trend,” Morimoto told a news conference.

Reporting by Leika Kihara; Editing by Chris Gallagher

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