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17th Aug 2023 19:18China+, Weekly Monitor

  • Japan’s national CPI remained stubbornly elevated in July, driven by sticky food and core prices.
  • That said, food and core inflation are likely to ease, as the carryover effect from a weaker yen fades.
  • Given the lackluster economic backdrop, the BoJ is unlikely to raise rates to combat elevated inflation.

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Keywords for: 21 August 2023 China+ Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence