Posted 11/24/2023, 5:24:00 AM
Inflation Stays High in Japan, Fueling Speculation of BOJ Policy Shift
- October CPI inflation rose to 2.9% year-on-year, above BOJ's 2% target for 19 straight months
- Inflation still seen as cost-push rather than demand-pull, but signs it may be more persistent than BOJ expects
- Speculation growing that BOJ may soon end negative rates and yield curve control
- Core-core inflation excluding food and energy at 4.0%, remaining above 4% for 7 months
- BOJ to assess latest data at Dec. 19 policy meeting, seen as key to potential pivot on stimulus exit