BOJ's Kuroda: In times like now, central banks must conduct monetary policy without any preset idea

Japan's economy continues to pick up as a trend.

BOJ must continue to support economy's recovery from pandemic with powerful monetary easing.

Expected rise in inflation is driven mostly by energy costs, lacking sustainability.

We aren't seeing signs of sharp rise in medium-, long-term inflation expectations in Japan.

We will seek to achieve 2% inflation sustainably, stably by creaing cycle in which rising wages push up households' real income.

Covid pandemic continues to exert downward pressure on economy.

Recent rise in commodity prices is hurting economy by reducing real income.

Japan's inflation situation is completely different from that of US, Europe.

Uncertainty regarding economic outlook heightening sharply.

There is risk ukraine crisis could hurt global economy further, trigger sharp volatility in commodity prices.

There is risk markets, including forex, could destabilise as advanced economies accelerate withdrawal of stimulus.

Must be mindful that sharp fx volatility would hurt economy BOJ will carefully watch impact of market volatility on economy, prices.

Short-term inflation expectations among households, firms, market participants are clearly heightening.

We are carefully watching whether such rise in short-term inflation expectations would spread to higher medium-, long-term inflation expectations and wage growth.

We must see both prices and wages rise.

Japan must see a situation where price rises are accompanied by increases in real wages, income.