Japan Inflation Picks Up Pace as Rate-Hike Bets Firm

Japan's inflation has picked up pace as rate-boost bets firm. The country's consumer price index (CPI) rose by 0.2% in June, beating expectations of a 0.1% increase. This marks the first time since January that Japan's inflation has been above 0.

The news is likely to boost bets on a rate hike from the Bank of Japan (BOJ), which has been under pressure to take action against deflation. Analysts are now pricing in a higher likelihood of a rate increase, with some predicting a 50% chance of a move by year-end.