Japan’s core inflation rose at the slowest pace since last summer, bolstering the Bank of Japan’s argument that it was in no rush to raise interest rates.
The core consumer price index, excluding volatile fresh food prices, rose at an annual rate of 2.5 per cent in November, slowing from a 2.9 per cent rise in October, according to government data released on Friday.
A more closely watched measure of inflation that excludes both food and energy prices rose 3.8 per cent, decelerating from the previous month’s 4 per cent.
The BoJ lowered investor expectations for an imminent lifting of negative interest rates after governor Kazuo Ueda stuck to a dovish tone following its policy meeting on Tuesday.
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