Japan’s Inflation Tops Forecasts, Supporting BOJ Rate Hike Bets
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Japan’s benchmark inflation topped estimates in January, supporting the case for the central bank to scrap its negative interest rate in the coming months.
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Published Feb 26, 2024 • Last updated 55 minutes ago • 3 minute read
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(Bloomberg) — Japan’s benchmark inflation topped estimates in January, supporting the case for the central bank to scrap its negative interest rate in the coming months.
Bond yields jumped after consumer prices excluding fresh food rose 2% from a year ago, in line with the Bank of Japan’s inflation target. The two-year note yield climbed to the highest level since 2011 after the data from the internal affairs ministry Tuesday exceeded a consensus estimate of 1.9%.
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Bloomberg News
2024-02-26 20:25:20
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