Kishida Fumio believes that as Japan's domestic demand is still weak, the possibility of Japan falling back into deflation cannot be ruled out.

(Reuters)

[Financial Channel/Comprehensive Report] The core consumer price index (CPI) in Tokyo, Japan, increased by 4.3% year-on-year in January, the highest level since 1981. Nevertheless, Japanese Prime Minister Fumio Kishida said today (27th) that due to weak domestic demand However, the possibility of Japan falling back into deflation cannot be ruled out.

"Reuters" reported that Tokyo's core CPI has risen for 17 consecutive months and has been higher than the Bank of Japan's 2% target for eight consecutive months. However, Kishida Fumio believes that this wave of inflation is due to rising global raw material prices, the yen The weakness is not driven by strong domestic demand, so the possibility of Japan falling back into deflation cannot be ruled out.

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The Bank of Japan (BOJ) raised the fluctuation range of Japan's 10-year government bond yield control curve from 0.25% to 0.5% in December, and the yen rose against the dollar, impacting the Japanese bond market. The initial move of loose monetary policy, but Kishida described the move as an operational adjustment to moderate the impact of monetary easing on the Japanese bond market.

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