Inflation in Japan's capital accelerates, keeps BOJ rate hike prospects alive

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Inflation in Japan's capital accelerates, keeps BOJ rate hike prospects alive - Channel News Asia

Quick Summary:

TOKYO: Core inflation in Japan's capital accelerated in June on rising fuel bills and the boost to import costs from a weak yen, data showed on Friday (Jun 28), keeping alive expectations for a near-term interest rate hike by the central bank.

Japan's economy shrank in the first quarter as companies and households reduced spending, casting doubt on the central bank's view of a moderate recovery.

The BOJ ended eight years of negative interest rates and other remnants of its radical monetary stimulus in March as it judged that sustained achievement of its 2 per cent inflation target has come into sight.