The Bank of Japan's key measurements of underlying inflation in April all fell below its 2% target for the first time since August 2022, data showed today, heightening uncertainty on the timing of its next interest rate hike.
The trimmed mean index, which excludes the upper and lower tails of the price change distribution, rose 1.8% in April from a year earlier, slowing from the previous month's 2.2%, the data showed. The Bank of Japan ended eight years of negative interest rates and other remnants of its radical monetary stimulus in March on the view that sustained achievement of its 2% inflation target has come into sight.
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