Tokyo’s core consumer price index (CPI) rose 1.6% in June from a year earlier, data showed. This increase is a sign of broadening price pressures from the Middle East conflict.
Impact on the Bank of Japan
The Bank of Japan will scrutinize the data at next month’s policy meeting, when the board will conduct a quarterly review of growth and price forecasts. The BOJ raised interest rates to a 31-year high this month in a landmark step in its policy normalization, signaling readiness to tighten further as it focuses on taming price pressures from the energy shock induced by the Iran war.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
