Japan Inflation Rate Eases Ahead of BOJ Rate Hike

Japan's inflation rate slowed for the first time in four months in August, according to data released by the Ministry of Internal Affairs and Communications. The consumer price index excluding fresh food rose 1.7% from a year earlier, easing from a 1.8% pace in July.

Economists had expected the inflation rate to remain unchanged, but the actual figure was slightly lower than forecasted. This development comes hours before the Bank of Japan is set to announce an interest rate hike.