TechFlow news, March 21 — According to Jinshi Data, Min Joo Kang, senior economist for Korea and Japan at ING, said in a research report today that Japan's core inflation data released earlier supported the Bank of Japan raising interest rates at its two-day meeting ending on May 1.
The core inflation rate (excluding fresh food and energy), which is closely watched by the central bank, edged up to 2.6% in February from 2.5% in January. The economist noted that although the core inflation figure aligned with market consensus, it marked the fifth consecutive month of increases. He added that the data also showed steady month-on-month rises in service prices, which could provide justification for the Bank of Japan to raise rates.
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