Japan’s (stated) Inflation Hits 4% for the First Time Since 1981
Japan’s inflation hit 4% for the first time in more than four decades, an outcome likely to keep speculation of a monetary policy change smoldering as prices grow at twice the pace targeted by the Bank of Japan. Consumer prices excluding fresh food rose 4% in December from a year ago, the internal affairs ministry reported Friday. The result matched economists’ estimate, and was led by further gains in energy and food costs. Processed food prices grew at the fastest pace since 1976, while electricity and gas prices both continued to jump more than 20% from the year before.
While the strongest price gains since 1981 are likely to keep some speculators expecting the possibility of a near-term policy pivot at the BOJ, the outcome was largely in line with expectations among economists and the central bank. (never gonna habben-they will just keep widening the band they buy the debt at and the BoJ will be first with it's CBDC-digital Yen) Economists say the result won’t budge Governor Haruhiko Kuroda’s view that the inflationary trend is set to cool (He gives two shits as he leaves on April 8th and went to Davos straight after the BoJ did nuffin on it's Weds announcement and the next one won't be any different). A slowdown in prices is also expected by economists given that government subsidies will sharply lower energy costs in the coming months. Either the December or January inflation figure is likely to be the peak, they say. “Kuroda has a few more months to go and the BOJ will stick to the current policy framework,” said Toru Suehiro, chief economist at Daiwa Securities. “But that wouldn’t rule out the possibility of policy change entirely.”
The central bank released its updated price outlook after Wednesday’s policy meeting, raising its inflation view for the current fiscal year to 3%, while keeping those for the next two years below 2%. Still, the drawn-out price hikes add to concerns that the central bank may have underestimated the strength of inflationary momentum, a factor that invites speculation it may reconsider its policy direction down the line. Economists have brought forward their expectations of policy change at the bank to coincide with the first or second meeting of a new governor set to succeed Kuroda in April. Market watchers say change could still come before then.
https://www.bnnbloomberg.ca/japan-s-inflation-hits-4-for-the-first-time-since-1981-1.1872506
>>18172469 pb Funds Plan Relentless Pressure on BOJ as They Eye Full Surrender
>you don't have a printing press…they do and about $1T (less by now) of US Treasuries to use…do you?-this is just trying to get others to "go along for the ride" since some ANALyst is "right"-they aren't wrong but you will never be right when you are up against a printing press.