(Bloomberg) -- Japan’s consumer inflation accelerated to the quickest pace in four months, an outcome that will keep markets focused on whether the Bank of...
-- Japan’s consumer inflation accelerated to the quickest pace in four months, an outcome that will keep markets focused on whether the Bank of Japan might follow its first interest rate hike since 2007 with an encore later this year.What Happens If Trump Can’t Post His $454 Million BondConsumer prices excluding fresh food rose 2.8% in February from a year ago, with the pace speeding up from 2% in January, the ministry of internal affairs said Friday. The reading matched analysts’ estimates.
Ueda said Thursday the board voted earlier in the week to end the negative interest rate because there were concerns that waiting too long to make the move might greatly stoke inflationary pressure, potentially forcing the bank to undertake a rapid series of increases.The governor’s insistence that financial conditions will stay easy for now with no hint of another potential hike contributed to a weakening of the yen and a fall in Japanese government bond yields.
The results of the wage talks triggered a recalibration of views among some economists regarding the chances of inflation building momentum more rapidly than previously expected. The yen has continued to languish near its historic low versus the dollar, keeping import costs high. That could put further upward pressure on overall inflation and prompt the central bank to take action again later this year.
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