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.
