The headline Tokyo Consumer Price Index (CPI) for March rose 2.6% YoY following a 2.6% rise in the previous reading, the Statistics Bureau of Japan showed on Friday.
The headline Tokyo Consumer Price Index for March rose 2.6% YoY following a 2.6% rise in the previous reading, the Statistics Bureau of Japan showed on Friday. Meanwhile, the Tokyo CPI ex Fresh Food, Energy climbed 2.9% YoY, down from a 3.1% increase in February. Additionally, Tokyo CPI ex Fresh Food rose 2.4% for the said month, in line with the market expectation. Market reaction As of writing, the USD/JPY pair was up 0.04% on the day at 151.43.
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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