Japan core inflation surpasses target after nine months
Japan's core inflation data shows that the inflation rate surpassed the central bank's 2% target in September for the first time in nine months, strengthening the chances of an interest rate hike soon. Inflation rose by 2.1% year-over-year, driven by higher fuel costs due to the Middle East conflict, a weak yen that increased import prices, and strong demand for artificial intelligence. While the Bank of Japan plans to keep its monetary policy unchanged next week, it may raise its inflation outlook and signal a readiness to continue increasing borrowing costs.
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