- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- Data
- MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: Japan's Trimmed Mean Rises To 3.0% Vs. Mar 2.9%
Japan's trimmed mean measure of underlying inflation increased to 3.0% y/y in April from March's 2.9%, indicating continued pass-through of cost increases, despite a fall in import prices from a year earlier, Bank of Japan data showed Tuesday.
The accelerated trimmed mean followed Friday's release of the annual core consumer inflation rate, which rose 3.4% y/y in April from March's 3.1% – the 13th straight month above the 2% target. (see: MNI BRIEF: Japan Apr Core CPI Rises 3.4% Vs Mar 3.1%).
The BOJ's latest data showed the mode, or the inflation rate with the highest density in the distribution, gained a record high of 2.8% y/y in April, accelerating from a 2.7% rise in March. The mode-based measure of underlying inflation was above the BOJ's 2% price target for the third straight month.
The BOJ maintains the view that the y/y rise of core CPI will fall below 2% toward the middle of fiscal 2023, prompting continued easy policy to achieve the 2% target sustainably, accompanied by wage increases.
The board’s median forecasts for the core inflation rate in fiscal 2023, 2024 and 2025 are 1.8%, 2.0% and 1.6%. The 2023 core CPI will be revised up in July when the policymakers update their medium-term view.
To read the full story
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.