Japan’s corporate goods prices rose faster than expected in August, adding support to expectations that the Bank of Japan will keep raising rates to contain inflation risks. According to the figures cited by ChainCatcher, corporate input prices increased 7.6% year over year in August, above the 7.4% market expectation. The data has reinforced market pricing for another move from the central bank. Traders currently expect the Bank of Japan to raise its benchmark rate by 25 basis points on Sept. 18, which would take the policy rate to 1.25%. The report ties the stronger-than-expected price reading directly to the case for continued policy tightening, with inflation risks still in focus. No other details were provided in the source.
Japan’s corporate goods prices rose more than expected in August, a result that supports the case for the Bank of Japan to continue raising interest rates to curb inflation risks, according to ChainCatcher.
Data cited in the report showed corporate input prices were up 7.6% from a year earlier in August, above the 7.4% expectation. The market is now expecting the Bank of Japan to lift its benchmark rate by 25 basis points to 1.25% on Sept. 18.
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