Japan: CPI in focus this week - BBH
|In view of analysts at BBH, except for Japan's CPI, the economic data in the week ahead are unlikely to attract more than passing attention.
Key Quotes
“Headline CPI in Japan has firmed in recent months, but even if it ticks up to 0.5%, matching a two-year high, it is nothing about which to get excited. The GDP deflator, despite the strong growth (1.0% in Q2 quarter-over-quarter, to lead the G7) remains negative and the targeted core CPI measure (~0.4-0.5%) is well below not only well below the BOJ's target, but lags behind targeted measures in the US (core PCE deflator 1.4% and the ECB's headline rate of 1.3%). In the mishmash of policies, the central banks have more or less the same quantitative target for inflation, but the quantities they measure are quite different (dare one say incomparable?).”
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