TOKYO - Japan's core consumer prices fell for a second straight month in May, reinforcing deflation expectations and raising the challenge for policymakers battling to revive an economy reeling from the coronavirus pandemic.
TOKYO - Japan’s core consumer prices fell for a second straight month in May, reinforcing deflation expectations and raising the challenge for policymakers battling to revive an economy reeling from the coronavirus pandemic.
Several BOJ board members warned that stronger monetary support and closer policy coordination with the government were needed to prevent Japan from returning to deflation, minutes of the bank’s April meeting showed. That compared with market forecasts of a 0.1% fall and followed a 0.2% drop in April, which was the first year-on-year decline since December 2016.
As businesses re-open after the lifting of lockdown measures, the government raised its economic assessment in June for the first time since 2018.
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