BoJ unlikely to move policy to counter yen weakness
Bank wary of raising rates or increasing its yield control target, writes Sayuri Shirai
Rising inflation is a global phenomenon, mainly driven by recent sharp hikes in energy prices, food price increases and continuing global supply-chain disruptions related to coronavirus lockdowns. Among developed countries, the United States has one of the highest CPI inflation rates, which stood at around 9% in June 2022. Inflation excluding food and energy recorded 4.7%. These rates far exceed the Federal Reserve’s 2% inflation target.
Meanwhile, Japan’s inflation rate also exceeded 2%, as
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