Recap – Tokyo CPI accelerated for 4th straight month, fastest rise since 1992

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Recap - Tokyo CPI accelerated for 4th straight month, fastest rise since 1992
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The data here is from earlier:

Bloomberg (gated) provided a recap, the main points:

Inflation in Tokyo accelerated for a fourth consecutive month to rise at the fastest pace since 1992 excluding the impact of tax hikes,

The faster pace of price growth is unlikely to prompt the BOJ to tighten policy when it meets later this month. Governor Haruhiko Kuroda, whose term is due to end in April, has repeatedly said that an interest rate hike will not take place in the near future. He argues that the current cost-driven inflation will eventually subside without solid wage growth, and that the bank needs to maintain its monetary easing to support the economy.

I posted earlier on the BOJ summary, released yesterday, which showed either that BOJ policymakers’ views on inflation are moving along with the data or are helping to stem the fall in the yen.

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