Japan’s Tokyo Consumer Price Inflation (CPI) inflation printed well below expectations early Friday, which will complicate the Bank of Japan’s (BoJ) upcoming rate call and Monetary Policy Report, due during the Pacific market session.
Japan’s Tokyo CPI inflation fell below forecasts early Friday. US data confounded rate-hungry investors on Thursday. Markets await BoJ rate call, US PCE Price Index figures. Japan’s Tokyo Consumer Price Inflation inflation printed well below expectations early Friday, which will complicate the Bank of Japan’s upcoming rate call and Monetary Policy Report, due during the Pacific market session. Tokyo CPI inflation rose only 1.8% on an annualized basis in April, well below the previous print of 2.
Further complicating matters, US Personal Consumption Expenditure inflation remained stubbornly higher in the first quarter than investors hoping for Federal Reserve rate cuts were hoping for. US PCE Price Index inflation will deliver a fine-tuned look at US inflation later Friday. US MoM Core PCE Price Index numbers for March are forecast to hold steady at 0.3%. With the Japanese Yen trading into multi-year lows across the board, the BoJ is expected to begin weighing market interventions.
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