Japan PPI stays elevated at 7.2%, misses forecast, but yen keeps BOJ hike case alive
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The miss against forecast should not be read as genuine disinflation. At 7.2%, Japanese producer price growth remains near multi-year highs, and the shortfall against the 7.4% consensus is a modest undershoot on an already elevated base rather than a meaningful turn in the trend.
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4 itemsTokyo CPI misses forecast sharply, giving BoJ room to hold despite June hike signals
The desk views the recent Tokyo CPI data as a critical factor that may delay the Bank of Japan's (BoJ) anticipated rate hike in June. The core-core CPI missed expectations significantly, printing at 1.9% versus a forecast of 2.3%, providing the BoJ with a rationale to maintain its current stance despite prior hawkish signals. Per the full note [source], this data shift is likely to prompt markets to reassess their June hike pricing, reflecting the ongoing tension between inflationary pressures and the need for cautious monetary policy.
Rate hikes still priced in, but hawkish expectations unmet: Japan’s CPI misses forecasts, USD/JPY edges higher - Moomoo
Rate hikes still priced in, but hawkish expectations unmet: Japan’s CPI misses forecasts, USD/JPY edges higher - Moomoo
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