Learning from Japan
In April this year, the price of ketchup was raised for the first time in 25 years — I should note that this price hike was not due to purchases by the Bank of Japan.
Haruhiko Kuroda, Bank of Japan
This comment was a funny reference to some advice made by an American policymaker in the early 2000s - probably undersecretary of the Treasury John Taylor - suggesting that that BOJ should buy anything, even ketchup, to push up prices. Kurd was clearly highlighting that whilst commodity prices were pulling down overall Japanese inflation, the cost of many domestic goods were rising. Japan is an important economy and market to watch as it's at the front line of the global war on deflation.