Japan October inflation rate falls, BOJ rate hike still on table

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Japan October inflation rate falls, BOJ rate hike still on table

A market in Tokyo in June 2023.

Richard A. Brooks | Afp | Getty Images

Japan’s headline inflation rate slipped to 2.3% in October, its lowest level since January and down from the 2.5% seen in September.

The core inflation rate, which excludes fresh food prices, came in at 2.3%, down from September’s 2.4%. The figure however, was slightly higher than the 2.2% expected among economists polled by Reuters.

Japan’s central bank has long stated that its goal is a “

This is the hidden content, please

• Sign In
• or
• Sign Up

” A weak inflation reading could therefore mean that the bank would still need to maintain an easy monetary policy stance.

According to LSEG data, 55% of economists polled by Reuters as of Nov. 22 expect the BOJ to hike rates by 25 basis points at its December meeting, bringing the benchmark policy rate to 0.5%.

On Nov. 18, BOJ Governor Kazuo Ueda

This is the hidden content, please

• Sign In
• or
• Sign Up

the economy is heading toward sustained wage-driven inflation, and warned against keeping borrowing costs too low, Reuters reported.

The BOJ also said in its latest

This is the hidden content, please

• Sign In
• or
• Sign Up

that if prices and Japan’s economy develop as it expects, the policy rate could reach 1% by the second half of its 2025 fiscal year at the earliest.

This is a developing story. Check back later for updates.

This is the hidden content, please

• Sign In
• or
• Sign Up

#Japan #October #inflation #rate #falls #BOJ #rate #hike #table

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up