Japan faces risks of low growth and high inflation if a prolonged Middle East conflict keeps oil prices elevated and hits the import-reliant economy, analysts say, complicating the central bank's efforts to push up still-low interest rates. Oil prices jumped 7 per cent to their highest in months on Monday as Iran and Israel stepped up attacks in the Middle East, disrupting shipments from the key producing region in a blow to Japan that imports over 90 per cent of its crude oil from the Middle East. Prime Minister Sanae Takaichi told reporters on Saturday that she has instructed her cabinet to produce estimates on the ... (full story)