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

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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, keeping alive expectations for a near-term interest rate hike by the central bank.

The central bank expects rising wages to push up service prices and keep inflation durably around 2%, a condition it set as a prerequisite to further phase out monetary stimulus.

Separate data showed factory output rebounded nationally in May as automakers recovered from shipment disruptions, offering policymakers hope the economy was on track for a moderate recovery.

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Category: EconomyBusiness

Markets: MalaysiaJapan

Topics: Bank of Japan Inflation Consumer /Business/Business News Economy Interest rate Spending Yen CPI

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 10:40:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 549 words

Reading Time: 4 minutes read

Sentences: 17 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21406645

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