The data post is here:
Japan October headline CPI +3.7% y/y (prior +3.0%)
Kuroda's response is to basically repeat the he thinks the current level of inflation in Japan is transitory:
Bank of Japan Governor Kuroda says again Japan's core CPI likely to slow from next year
More from BOJ Gov Kuroda: Japan has yet to see inflation hit 2% in stable sustained manner
BOJ Gov Kuroda concedes CPI may rise more in coming months, but likely then to slow
Japanese media (Japan Times) on the inflation report and BOJ response:
- Japan’s inflation hit its fastest clip in 40 years in October, an outcome that puts the central bank in an even more awkward position as it tries to explain the need to stick with monetary stimulus to pursue stable price growth.
- “It’s getting harder for the BOJ to keep saying that the current cost-push inflation is temporary,” said Mari Iwashita, chief market economist at Daiwa Securities. “If the yen remains weak, more companies will try to pass on costs to consumers.”
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USD/JPY is doing not a lot:
