Akazawa stated that all four key indicators used to assess deflation:
consumer prices, GDP deflator, unit labor costs, and the output gapWhile the BOJ ended its decade-long ultra-loose monetary policy and raised interest rates to 0.5% in January, the government has been cautious in officially declaring the end of deflation. Doing so could reduce justification for further fiscal stimulus but might also serve as a political advantage for the administration ahead of Japan’s upper house elections in July.
JPY has been strengthening today, its back under 148.00
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