Japan maintains an ultra-low interest rate policy, which indirectly pushes up import costs.

(Bloomberg)

[Financial Channel/Comprehensive Report] Data released on Friday (21st) showed that Japan's national core consumer price index (core CPI) rose 3% in September compared with the same period last year, hitting an eight-year high and surpassing the central bank for the sixth consecutive month. 2% target.

Given Japan's heavy reliance on fuel imports, rising commodity prices, especially for oil and LNG, also contributed to inflation.

Core CPI rose 3% in September, up from 2.8% the previous month.

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The rise in core CPI reflects pressure on the Japanese economy from rising raw material costs, which most companies have passed on to their customers.

The price pressure has led to speculation that the Bank of Japan will adjust its ultra-low interest rate policy in the future.

The yen fell to a fresh 32-year low, breaking the psychologically important 150 level against the dollar.

The move raised the prospect of government intervention in currency markets, but did not deter currency short sellers.

Rising tourism could boost the economy as Japan reopens its borders after more than two years of coronavirus restrictions.

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