Japan’s National Consumer Price Index (CPI) for March climbed 2.7% YoY, compared to a 2.8% uptick in February, according to the latest data released by the Japan Statistics Bureau on Friday.
Japan ’sNational Consumer Price Index for March climbed 2.7% YoY, compared to a 2.8% uptick in February, according to the latest data released by the Japan Statistics Bureau on Friday. Further details unveil that the National CPI ex Fresh food arrived at 2.6% YoY in February versus 2.8% prior. The figure was below the market consensus of 2.7%. Market reaction Following the Japan inflation data, theUSD/JPYpair is down 0.02% on the day at 154.61.
The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers. This process has exacerbated more recently due to an increasing policy divergence between the Bank of Japan and other main central banks, which have opted to increase interest rates sharply to fight decades-high levels of inflation.
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