BOJ Governor reveals why 3.1% inflation won't trigger rate hikes yet
Key Points
- Japan's rice prices have skyrocketed by 89%, fueling concern...
Rice prices up 89% and the Bank of Japan is still calling their 0.5% interest rate "accommodative." Welcome to Japan, where inflation runs hotter than a Tokyo summer while central bankers practice the fine art of monetary patience.
The Tokyo Core CPI dropped from 3.6% to 3.1% in June - which sounds like progress until you realize that's still 55% above the BOJ's 2% target. It's like celebrating a fever dropping from 104 to 102 degrees while your doctor insists you're getting better.
When Rice Costs More Than Your Dignity
Food prices are delivering the real shock therapy here. Rice, the ...
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