Japanese inflation data due on Tuesday core to drop under 2% for the first time in 2 years

Japanese CPI data is due at 8:30 am Tokyo time on Tuesday, 27 February 2024:

• 2330 GMT on 26 February and 1830 US Eastern time on 26 February

The expected “core” consumer price index (CPI), which excludes fresh foods but includes energy items at 1.8% would be under the Bank of Japan’s 2% target for the first time in nearly two years (since March 2022)

This is going to diminish any urgency the BOJ feels to tighten policy, especially given the country was in a confirmed recession from data released last week:

• GDP -0.4% q/q vs. +1.4% expected

• This snapshot from the ForexLive economic data calendar, access it here.
• The times in the left-most column are GMT.
• The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

This article was written by Eamonn Sheridan at www.forexlive.com. Source