Bank of Japan Gov. Toshihiko Fukui said Thursday the seeds of inflation may be disseminated by the extremely accommodative monetary policies of many developed countries.

"Global commodities prices are on the rise, and an early sign of inflation can been seen in some sense," Fukui told the House of Councilors Budget Committee.

"Against this backdrop, many major developed countries have been relaxing their monetary policies, thereby causing liquidity in the markets to go on rising," Fukui said.