BOJ Interest Rate Hike Looms as Japan Inflation Surges

The Bank of Japan is likely to consider raising interest rates at its September meeting following the release of July inflation data.

The underlying Consumer Price Index (CPI) in Japan rose to 1.8% year-on-year, a two-tenth increase from June and the highest since January.

The core inflation index, excluding fresh food and energy prices, also accelerated to 1.9%, in line with the price stability target set by the Bank of Japan.