Economic calendar in Asia 24 June 2022 - Japan inflation for May

We had the Tokyo inflation data for May published four weeks ago; Tokyo area data is seen as a bit of a guide

It was on the up, but the Bank of Japan is not convinced its not transitory and so left policy unchanged at its latest monetary policy meeting:

• BOJ announce no change to monetary policy

Confirmed loose policy from the BOJ sent yen crosses skyrocketing, this was a no-brainer:

• The no change from the BOJ will now set up another attempt at 135 later today or into the new week. This time it'll be attacked with much more vigour ... and should head higher.

After an adventure above 136 USD/JPY has turned down:

• USD/JPY goes on the defensive as US yields continue to slide

Higher than expected CPI in the data today will spur talk, again, of BOJ policy change and would be a positive for yen, at the margin.

Apart from the Japan data there is consumer confidence to come from the UK (2301 GMT) for June

• expected -40, prior -40

and the Corporate Services Price Index from Japan at 2350 GMT

prior +1.7% y/y