BOJ Interest Rate Hike Path Widens as Tokyo Inflation Rises Again

Tokyo's inflation rate accelerated for the second month in a row, keeping the Bank of Japan (BOJ) on track to raise interest rates again. The consumer price index excluding fresh food rose 1.9% in July from a year earlier in the capital, according to the Ministry of Internal Affairs and Communications.

This increase outpaced the forecast of 1.8% gain by economists surveyed by Bloomberg. The BOJ's decision on interest rates is expected this Friday, with many predicting that it will maintain its current stance.

The Bank of Japan has been closely monitoring inflation rates as it considers further rate hikes to combat rising prices.