Bank of Japan Governor Kazuo Ueda said on Monday economic and price developments were moving roughly in line with the bank's forecasts, but called for vigilance to the impact of escalating conflict in the Middle East. "Global financial markets are unstable and crude oil prices are rising sharply due to Middle East tensions. We must be vigilant to future developments," Ueda was quoted in a speech read out by his deputy, Ryozo Himino. The speech was closely watched by markets for any hints on whether the BOJ would raise interest rates at its next policy meeting on April 27-28.

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