The Bank of Japan target is 2% and, as always, we are a long way from there.

  • National CPI 0.8% y/y, expected 0.9%, prior was 0.6%

  • National CPI excluding Fresh Food 0.5% y/y, expected 0.6%, prior was 0.5%

  • National CPI excluding Food, Energy -0.7% y/y, prior was -0.6%

Earlier in the Bank of Japan Governor Kuroda hit back at speculation the Bank was discussing how to communicate winding back its stimulus efforts: