QTC: Japan – core CPI still near 2%
I don't think the BOJ is particularly data-dependent when it comes to headline monthly releases, which tend to be noisy. To the extent that today's July Tokyo CPI does matter, it suggests the underlying story remains unchanged.
![QTC: Japan – core CPI still near 2%](/content/images/size/w2000/2024/07/Japan--Tokyo-CPI-Excl-all-food-and-energy----MoM-annualised-1.png)
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