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Inflation

BOJ's ultraeasy policy under pressure as inflation hits 40-year high

Kuroda remains committed but market watchers see tightening on horizon

Bank of Japan Gov. Haruhiko Kuroda remains committed to monetary easing despite acknowledging "significant" inflation.   © Reuters

TOKYO -- The Bank of Japan faces mounting pressure to adjust its ultraloose monetary policy following October price data showing inflation significantly above its 2% target, with some market watchers predicting a tightening within a year.

Japan's core consumer price index, which excludes volatile fresh-food prices, increased 3.6% on the year in October -- the fastest clip in 40 years. The recent rise in prices has been "significant," BOJ Gov. Haruhiko Kuroda told the lower house Financial Affairs Committee on Friday.

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