Tokyo inflation exceeds BOJ’s 2% target before rate decision

What happened: Tokyo consumer inflation stayed above the Bank of Japan's 2% target in October, hours before the BOJ board was expected to keep policy settings unchanged. Key numbers: Core inflation excluding fresh food rose 2.6% year on year, down from 2.7% in September and matching the median forecast. Why it matters: The subsidies that capped prices are likely to fade, so the figures are not expected to derail rate hikes in coming months. A declaration by Gov. Kazuo Ueda that underlying inflation is in line with the 2% target could build speculation over a near-term hike. Coverage: 3 outlets in 24h

Tokyo consumer inflation stayed above the Bank of Japan's 2% target in October, hours before the BOJ board was expected to keep policy settings unchanged.

The subsidies that capped prices are likely to fade, so the figures are not expected to derail rate hikes in coming months. A declaration by Gov. Kazuo Ueda that underlying inflation is in line with the 2% target could build speculation over a near-term hike.