Japan November inflation data. Core CPI 3.7% vs. 3.7% expected

National CPI 3.8% y/y,

National CPI excluding Fresh Food 3.7% y/y,

  • expected 3.7%, prior was 3.6%

  • highest in 40 years for core inflation , since December of 1981

National CPI excluding Food, Energy 2.8% y/y,

(AKA core-core inflation and the closest measure to the US core CPI)

USD/JPY has popped a little on the data:

Bank of Japan Governor Kuroda has been

Bank of Japan Governor Kuroda has been insistent that the current high inflation level in Japan is transitory and will begin falling from around October in 2023. He’s also been insistent that any widening of the tolerance band around the YCC target to +/-0.5% from +/-0.25% was not under consideration since it’d basically be a rate rise. Then on Tuesday he widened the band and said it wasn’t a rate rise. Go figure.

In this release, all three measures have come in above expected and above the previous month’s reading. Will kuroda back down from his ‘transitory’ mindset?

Articles You May Like

UK GDP forecast cut, inflation forecast raised
Gold falls over 3% in a week; yellow metal staring at $1830 as bears take control
USD/INR: Slightly tighter fiscal stance to offset end of monetary tightening to leave Rupee steady – ING
Penn’s sports betting business posts head-turning fourth quarter profit
#youtubeshorts #ontrending #signal #forex #forextrading #shortvideo #trading

Leave a Reply

Your email address will not be published. Required fields are marked *