Japan's inflation rate climbs to a 2-year high of 4% in January, supporting rate hike calls from BOJ members

In January, Japan’s inflation climbed 4% year on year, reaching its highest level since January 2023, supporting the case for rate hikes by the central bank. The core inflation rate excluding fresh food rose to 3.2%, beating expectations and marking the highest level since June 2023. The Bank of Japan is considering adjusting monetary accommodation to address inflation risks and prevent excessive risk-taking, with analysts forecasting potential rate hikes in June and December.

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