Japan November Core CPI 3.0%
expected 3.0%, prior 2.9%
Headline reads the same, comes in at 3.0%
expected 3.0%, prior 2.9%
The core-core rate, ie excluding food and energy 3.1%
expected 3.1%, prior 3.0%
Yen is little changed, USD/JPY circa 157.46.
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If you were looking for data today to support a December rate hike from the Bank of Japan this will help you out. All 3 at 3% or higher. And, you’re not alone:
BOJ likely to hike in December as yen slide boosts inflation risk, Reuters poll shows
More here:
Recap – Japan readies ¥21.3tn (USD 135bn) stimulus, largest since Covid
That’s gotta feed inflation further, right?
As for the yen:
Yen could hit 160, but rising chance of intervention, economist warns
But we might not have to wait ’til 160:
Japan trying some verbal yen intervention after the close, can’t blame ’em for trying
This article was written by Eamonn Sheridan at investinglive.com.