Japan's core consumer inflation wallowed at a two-year low in July, increas...
TOKYO - Japan’s core consumer inflation wallowed at a two-year low in July, increasing pressure for the central bank to acknowledge price momentum was slowing and expand its radical stimulus program.
Indeed, expectations that the BOJ will ease further have grown, a recent Reuters poll showed, after the central bank at its last policy meeting committed to expanding stimulus if a global slowdown prolongs and threatens to derail Japan’s economic recovery. The so-called core-core CPI, which excludes the effects of volatile food and energy costs, was also up 0.6% in July from a year earlier. It is closely watched by the BOJ to gauge how much the economy’s strength has translated into price gains.
“Japan is not in deflation at all, but it is far below the BOJ’s target,” adding that the central bank may do so in the December quarter.
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