Core inflation surpasses BOJ target

Data shows that Japan's core inflation exceeded the Bank of Japan's 2% target in September for the first time in nine months, reflecting growing price pressures on the Japanese economy. The increase was driven by higher fuel costs resulting from the ongoing Middle East conflict, the weak yen which has led to higher import prices, and strong demand for artificial intelligence technologies. While the Bank of Japan decided to keep its monetary policy unchanged next week, it is likely to raise its inflation expectations and prepare to increase borrowing costs again if inflationary pressures persist. The core inflation rate rose to 2.1% year-on-year in September, with mounting pressures that could prompt the bank to adopt more restrictive measures to counter potential inflation.

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