Ueda Says Iran Conflict Could Hit Japan’s Economy Significantly

Bank of Japan Governor Kazuo Ueda warned that the Middle East conflict could have a major impact on the nation’s economy, in comments likely to firm up investor expectations that authorities will hold policy steady when they meet later this month.

“Depending on how the situation unfolds going forward, it could have a significant impact on the global economy and Japan’s economy through channels such as crude oil and other energy prices, as well as international financial markets,” Ueda said Wednesday in response to questions in parliament.