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Japan's core CPI for September rose to 2.1%, exceeding 2% for the first time this year; over 80% of economists expect the Bank of Japan (BOJ) to raise interest rates in December.
Japan's core CPI rose 2.1% year-on-year in September, exceeding the Bank of Japan's 2% target for the first time in nine months, data from the Ministry of Internal Affairs and Communications showed today. This marks a significant acceleration from August's 1.7%. The deeper inflation gauge, excluding fresh food and energy, increased by 2.4% year-on-year, substantially higher than August's 1.9%. A Bloomberg survey indicates that over 80% of economists expect the BOJ to raise interest rates in December, with no one anticipating action at next week's meeting. Sources suggest the BOJ may state for the first time at its October 30 policy meeting that underlying inflation has reached its 2% target.
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