The timing of the inflation uptick is also notable, as Kazuo Ueda has recently assumed the role of the 32nd governor of the Bank of Japan.
This week, the Statistics Bureau of Japan unveiled the latest core consumer price index report for the country, revealing a surge to 3.5%. This figure comes as a surprise to analysts who had predicted a more modest 2.9% for the end of the quarter. It’s worth noting that Japan’s inflation has been steadily rising since June 2021. The timing of this uptick is also notable, as Kazuo Ueda has recently assumed the role of the 32nd governor of the Bank of Japan.
“With extremely high uncertainties surrounding economies and financial markets at home and abroad, the bank will patiently continue with monetary easing while nimbly responding to developments in economic activity and prices as well as financial conditions,” thenotes. “By doing so, it will aim to achieve the price stability target of 2 percent in a sustainable and stable manner, accompanied by wage increases.
Overall, the country’s recent CPI report highlights the challenges that Japan’s economy is facing. On Friday, Hiromi Yamaoka, a former BOJ official,CNBC’s “Squawk Box Asia” that “there remains some uncertainty in the Japanese real economy, but at the same time, inflationary pressures is becoming more imminent.”
Graham Summers, an MBA at Phoenix Capital Research, believes that Japan may be the final straw in terms of liquidity. On Friday, Summers , “With inflation surging in Japan, the Bank of Japan will soon be forced to end its money printing, which means the financial system would lose its last and final source of excess liquidity.”
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Japan's new central bank governor sticks to negative interest rates in his first meetingGovernor Kazuo Ueda of the Bank of Japan chaired his first monetary policy meeting this week.
Leer más »
USD/JPY eases below 134.00 on upbeat Japan inflation, Ueda’s first BoJ eyedUSD/JPY drops to 133.80 during early Friday morning in Asia as strong Japan inflation data renews hawkish bets on the Bank of Japan’s (BoJ) future mov
Leer más »
When is the BoJ and how might it affect USD/JPY?The Bank of Japan is scheduled to deliver the outcome of its meeting today with the governor Kazuo Ueda to hold a news conference at 0630 GMT after th
Leer más »
Breaking: BoJ steers policy on a steady course, USD/JPY jumpsAt Bank of Japan (BoJ) Governor Kazuo Ueda’s first monetary policy meeting, the central bank’s board members decided to make no changes to their curr
Leer más »
BoJ’s Ueda: Appropriate to continue monetary easing to achieve 2% inflation target with wage growthBank of Japan (BOJ) Governor Kazuo Ueda is speaking at his first post-policy meeting conference on Friday, noting that it is “appropriate to continue
Leer más »
BoJ’s Ueda: Today's policy decision took into account financial turmoil since MarchMore comments are flowing in from new Bank of Japan Governor Kazuo Ueda on Friday, as he addresses his first press conference that follows the monetar
Leer más »