People walk past a stock board of a securities firm in Tokyo on Friday. Associated Press
Japan’s core consumer inflation wallowed at a two-year low in July, increasing pressure for the central bank to acknowledge price momentum was slowing and expand its radical stimulus programme.
Japan’s core consumer inflation slowed to a new two-year low level in August due to lower oil costs and feeble economic growth, data showed on Friday, adding to the central bank’s growing challenges in achieving its elusive 2% price target.
The Bank of Japan (BOJ) is expected to forecast this week that inflation will remain below its 2 per cent target through the fiscal year that ends in March 2022, sources say, a sign its massive stimulus will stay in place for the foreseeable future.
Japan’s core consumer inflation slowed in May and factory activity shrank in June, underlining the growing stress on the economy and keeping the central bank under pressure to expand its radical stimulus programme, possibly as early as next month.
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