Tokyo core CPI jumps to 2.7%, fastest in 10 months, strengthening BOJ rate hike case
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A beat across all three measures, and by half a point on the BOJ's preferred trend gauge, is likely to lift pricing for an October hike and push short-dated Japanese government bond yields higher, offering the yen some support against the dollar. The breadth of the rise, includin
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Higher Tokyo inflation, hawkish BoJ comments, up odds of October hike
The Bank of Japan's (BoJ) hawkish tilt is gaining traction amidst rising inflation signals from Tokyo. As Tokyo's core CPI inflation rose to 1.9% in June, suggesting persistent price pressures, the odds of an immediate rate hike have increased, with some analysts now calling for an October move rather than December. Per the full note from ING, this shift highlights a powerful narrative where second-round effects from elevated oil prices may soon require a response from the BoJ.
Japan services producer prices rise 3.7% in August, fastest pace in over two years
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