Japan wholesale inflation steady near 4%, BOJ eyes rate hike next week

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TOKYO :Japan's annual wholesale inflation held steady at 3.8 per cent in December on stubbornly high food costs, data showed on Thursday, highlighting persistent price pressures that may prod the central bank to raise interest rates next week.

The central bank has signalled readiness to raise rates further if broadening wage hikes underpin consumption and allow companies to keep hiking prices not just for goods but services.

"Import prices are likely to continue rising slightly for the time being," which may briefly drive up wholesale inflation above 4 per cent and put upward pressure on consumer prices, analysts at SMBC Nikko Securities wrote in a research note.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Price Bank Inflation Rates Meeting Cent Ueda Prices Raise Week Costs

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Article Type: News Report

Published On: 2025-01-16 @ 08:04:28 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 673 words

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