02-December-2024
Economy News
 
Core Inflation in Japan's Capital Perks Up, Yen Jumps on Rate Hike Bets
29-Nov-2024

Core consumer inflation in Japan's capital accelerated in November and stayed above the central bank's 2% target, data showed on Friday, as price pressures broadened, keeping alive market expectations for a near-term interest rate hike. The yen jumped after the data, as market players stepped up bets the Bank of Japan (BOJ) would raise short-term interest rates from the current 0.25% at its next policy meeting in December. The Tokyo core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.2% in November from a year earlier, exceeding a median market forecast for a 2.1% gain and accelerating from a 1.8% increase in October.

News Source:- https://money.usnews.com/investing/news/articles/2024-11-28/core-inflation-in-japans-capital-accelerates-in-november