Takuya Hoshino of the Dai-ichi Life Research Institute said Tokyo-area CPI
rebounded in June for the first time in eight months but is unlikely to push the
Bank of Japan accelerate to rate hikes. Tokyo consumer prices excluding fresh
food rose 1.6% YoY in June, up from 1.3% in May. Hoshino said the print shows
some underlying price resilience but is insufficient to prompt concern about
faster cost pass-through to consumers and is unlikely to move the BOJ to bring
forward hikes.