Japan core CPI rises 1.6% in June, matching forecast, USD/JPY little changed
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
MUFG | Bullish | 152.00 |
UBS | Bearish | 160.00 |
Scotiabank | Bullish | 140.00 |
All 22 desk targets for USD/JPY
From the original
The data offers no fresh catalyst for USD/JPY, with headline and core CPI both landing in line with forecasts, leaving the pair little changed. The more notable signal is in the core-core measure, which slowed to its softest annual pace since August 2022 and undershot expectation
Related speeches
4 itemsJapan core CPI rises 1.6% in June, matching forecast, USD/JPY little changed - investingLive
Japan: Tokyo area April CPI headline 1.5% y/y (expected 1.7%, prior 1.4%)
The desk interprets the latest Tokyo CPI data as a clear signal that the Bank of Japan (BoJ) is unlikely to accelerate its rate hike plans. Per the full note from Eamonn Sheridan, the April 2026 headline CPI came in at 1.5% year-on-year, missing expectations of 1.6% and reflecting a marginal increase from the prior 1.4%. This subdued inflation data, particularly the core CPI at 1.5%—the slowest since March 2022—provides the BoJ with the necessary leeway to maintain its accommodative stance despite previous signals suggesting a potential hike in June.
Japan April CPI preview: core inflation seen slipping further below BOJ target
More like this
5 itemsHow have interest rate expectations changed after this week's events?
ECB policymaker Rehn flags energy and AI risks as rate outlook stays uncertain
Tokyo core CPI jumps to 2.7%, fastest in 10 months, strengthening BOJ rate hike case
Fed's Logan says rates need to rise another 50 bps or more to restore price stability