Japan inflation data

National CPI y/y for December, 1.0%

  • expected 1.1%, prior was 0.6%

National CPI y/y excluding Fresh Food, 0.9%

  • expected 0.9%, prior was 0.9%

National CPI excluding Food, Energy y/y, 0.3% ... this is "core core" inflation, the one to focus on

  • expected 0.4%, prior was 0.3%

Tokyo CPI y/y for November, 1.3%

  • expected 1.1%, prior was 1.0%

Tokyo CPI excluding Fresh Food y/y, 0.7%

  • expected 0.8%, prior was 0.8%

Tokyo CPI excluding Food, Energy y/y, 0.4%

  • expected 0.4%, prior was 0.4%

0.3% for the core core.

The BOJ target is 2%.

The Bank will be staying the course on aggressive easing policy for some time to come unless changes are made to this target.

And that's not gonna happen any time soon either.

Note now also that the only dissent at BOJ meetings is from a guy who wants to do even more easing.