Data released by the Bank of Japan (BOJ) on Thursday showed that the Corporate Goods Price Index (PPI) rose by 7.2% year-on-year in July, slightly lower than the revised 7.3% in June, but still remaining at a high level. Amid persistent upside risks to inflation, Bank of Japan (BOJ) Governor Kazuo Ueda has made it clear that if inflation risks persist, a rate hike could occur as early as September. The weak yen has further exacerbated import cost pressures, hitting a 40-year low last month, intensifying market expectations for a Bank of Japan (BOJ) rate hike in September.