English-language Japan establishment
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The Japan Times · Japan · 도쿄 근원 CPI, 6월 전년비 +1.6%로 3월래 최고, 일본은행 7월 결정 임박
Covered the 1.6% core reading and its significance for the BoJ July 30-31 policy meeting; noted that services inflation at 1.4% y/y, the first time services crossed 1% since February, is the specific condition BoJ Governor Ueda said was needed to justify further normalisation; reported that overnight index swaps moved to price approximately 70% probability of a July rate hike.
“Tokyo core CPI rose 1.6% year-on-year in June, matching the threshold BoJ Governor Ueda has cited for the next rate increase, with services inflation crossing 1% for the first time since February.”