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Tokyo, Japan CNN —When art collective teamLab opened its flagship Tokyo venue, teamLab Borderless, in 2018, the group wanted it to fundamentally change the way we perceive and think about modern art. teamLab Borderless TokyoSo, it’s perhaps no surprise that a significant amount of hype surrounds the grand return of Borderless, which reopens this week in an upmarket new high-rise in Tokyo’s Azabudai district. teamLab Borderless TokyoKudo’s rhetorical style is circuitous, which is apt in a venue that eschews a linear approach to museum design. teamLab Borderless TokyoWandering around Borderless is more like “shinrin-yoku,” the Japanese art of forest bathing, whereby you let your body react to its environment so that it subconsciously directs your movements. teamLab Borderless TokyoThere may be no centerpiece at Borderless, but when another teamLab member, Sakurako Naka, opened a curtain to the new “Light Sculpture” series, she said the collective is “super excited” about this one.
Persons: teamLab Borderless, Takashi Kudo, , , , teamLab, motioning, There’s, Sakurako, Kudo Organizations: Japan CNN, Google, CNN Locations: Tokyo, Japan, Beijing, Melbourne , New York, London, Singapore, Taipei, Tokyo’s Azabudai district, ichi, Sakurako Naka
An employee works on a production line manufacturing steel structures at a factory in Huzhou, Zhejiang province, China May 17, 2020. The data shows that factories are producing less and hiring fewer people," Dan Wang, chief economist at Hang Seng Bank China, said of China's PMI readings, which have different samples. Export-reliant Japan, South Korea and Taiwan bore the brunt of sluggish global demand with their manufacturing activity remaining stagnant in November, surveys showed. Japan's final au Jibun Bank manufacturing PMI fell to 48.3 in November from 48.7 in October, shrinking at the fastest pace in nine months. Manufacturing activity also shrank in Taiwan, Vietnam and Malaysia, but expanded in Indonesia and the Philippines, the surveys showed.
Persons: Dan Wang, Toru Nishihama, Leika Kihara, Jamie Freed Organizations: REUTERS, PMI, Korea Soft, P Global, Hang Seng Bank, Dai, Research, Jibun Bank, Research Institute, Thomson Locations: Huzhou, Zhejiang province, China, Japan, S, TOKYO, Europe, United States, Hang Seng Bank China, South Korea, Taiwan, Asia, Vietnam, Malaysia, Indonesia, Philippines
While none of 26 economists predicted changes in the upcoming December BOJ meeting, many foresaw the negative rate policy, which has set Japan's short-term deposit rate at minus 0.1%, would reach the end of the line next year. In the Nov. 15-20 poll, 22 of 26, or 85%, of economists said the BOJ would end the policy by the end of next year. Having watered down YCC, the BOJ's next focus is to end its negative interest rate policy and push short-term rates to zero, sources previously told Reuters. Close to 85% of poll respondents forecast the BOJ would end its YCC policy, while the rest said it would tweak the scheme again, the poll found. EYES ON NEXT YEAROf 22 economists in the poll who chose 2024 for the end of negative rates, more than a half, 12, opted for the April 25-26 meeting.
Persons: Issei Kato, Kazuo Ueda, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Hiroshi Namioka, Namioka, Fumio Kishida's, Chiyuki Takamatsu, Satoshi Sugiyama, Veronica Khongwir, Sujith Pai, Sam Holmes Organizations: Bank of Japan, REUTERS, Rights, Bank of, Reuters, Capital, Research Institute, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, D, Management, Fukoku Mutual Life Insurance, Thomson Locations: Tokyo, Japan, Bank of Japan
Goldman Sachs Japan chief to retire at year end - internal memo
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: +1 min
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsTOKYO, Nov 20 (Reuters) - Goldman Sachs' Japan president Masanori Mochida has decided to retire at the end of the year after more than 38 years at the investment bank, according to an internal memo seen by Reuters. The internal memo dated Sunday from Goldman (GS.N) CEO David Solomon said Mochida will become a senior director, without mentioning who would succeed his role as president. He became co-branch manager of Goldman Sachs Japan in 1999. "Masa has served as an invaluable advisor to our most important clients across Japan and beyond on countless transactions, helping them advance their strategic objectives with Goldman Sachs at their side," the memo said.
Persons: Goldman Sachs, Andrew Kelly, Masanori Mochida, David Solomon, Mochida, Masa, Makiko Yamazaki, Stephen Coates Organizations: REUTERS, Rights, Japan, Reuters, Goldman, ichi Kangyo Bank, Mizuho Bank, Goldman Sachs Japan, Nippon Telegraph, Telephone, Financial Times, U.S, Thomson Locations: Manhattan , New York, U.S, Japan's, Japan, Tokyo
Ikeda died on Wednesday evening from natural causes at age 95, Soka Gakkai said in a statement on its website. Soka Gakkai, founded in 1930, says it has 12 million members in 192 countries and territories worldwide. He also founded Soka Gakkai's umbrella organisation, Soka Gakkai International, in 1975, where he served as honorary president from 1979 until his death. But those dropped off in recent years leading to some speculation about his health and role in Soka Gakkai International. In 1947 he met Josei Toda, then leader of the Soka Gakkai organisation, who was to become his mentor.
Persons: Daisaku Ikeda, Ikeda, Zhou Enlai, Mikhail Gorbachev, Arnold Toynbee, Polly Toynbee, Ichi, Josei Toda, Succeeding Toda, Kaneko, Hiromasa, Takahiro, Anton Bridge, David Dolan, William Mallard aand Kim Coghill Organizations: Soka Gakkai, Kyodo, Rights, Soviet, government's, Soka, Soka Gakkai International, SGI, Thomson Locations: Tokyo, Japan, British
Oct 30 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. Most talk is it will stay on hold this time, but will discuss laying the groundwork for an eventual shift. Any tweak would see Japanese yields rise and add to the pain being felt in the Treasury market, where 10-year yields nudged up to 4.87% on Monday with scant sign of any safe haven bid. Analysts at NatWest Markets expect $885 billion of marketable borrowing in Q4 and $700 billion in Q1. It is also notable that the borrowing kept climbing even though the economy surprised everyone with its strength.
Persons: Wayne Cole, It's, Eli Lilly, Luis de Guindos, Erik Thedéen, Muralikumar Organizations: Nikkei, Bank of Japan, Ichi, Insurance, Reuters, Treasury, NatWest Markets, Federal Reserve, Apple, Thomson Locations: Wayne, Gaza, China
TOKYO (AP) — Business sentiment among big Japanese manufacturers improved in July-September for the second straight quarter, according to a central bank survey released Monday. The Bank of Japan's “tankan” quarterly survey measured business sentiment among major manufacturers at plus 9, up from plus 5 in June. That’s tough for Japan, which imports almost all its oil, at a time when the Japanese yen is weakening. For the tankan’s projection of business sentiment three months from now, large manufacturers are expecting an improvement of 1 point at plus 10. What the Bank of Japan will do to interest rates in coming months is being closely watched.
Persons: , Toshihiro Nagahama, ___ Yuri Kageyama Organizations: TOKYO, Japan's, Dai, ichi, Toyota, Nintendo, Bank of Locations: Ukraine, Japan, Bank of Japan
Core orders, the leading indicator of Japanese business spending, were down 1.1% in July from the previous month, the data showed. Orders from manufacturers fell 5.3% in July, the largest decline in eight months, due to weak demand for computers from industries including electric machinery, auto and chemicals. Orders from "core" service-sector firms excluding shipping and electric utilities grew 1.3%. The government maintained its weak view on machinery orders, saying they are "stalling", highlighting the bumpy road ahead for Japanese business and its broader economy. In July, Japan's exports fell for the first time in nearly 2-1/2 years, while the industrial output contracted more than expected.
Persons: Chisato Oshiba, Fumio Kishida, reshuffling, Kantaro Komiya, Chang, Ran Kim Organizations: ", Dai, Research, Manufacturers, U.S . Federal Reserve, Bank of Japan, Thomson Locations: TOKYO, China, Japan
While the rebound in China's factory conditions say be a sign official efforts to revive growth is starting to have some effect, manufacturing activity in most of Asia remained stagnant in August. "It's unlikely we'll see a sharp, quick rebound in China's economy. Asia has been among the few bright spots in the global economy, though persistent weakness in China cloud the outlook. It expects China's economy to expand 5.2% this year after a 3.0% increase in 2022. Factory activity also contracted in Taiwan, Malaysia and the Philippines last month, with Indonesia the outlier with a modest expansion, surveys showed.
Persons: Siyi Liu, Toru Nishihama, Leika, Shri Navaratnam Organizations: REUTERS, PMI, P Global, Dai, Research, International Monetary Fund, Jibun Bank, Thomson Locations: Dezhou, Shandong province, China, Japan, Korea, TOKYO, Asia, South Korea, Taiwan, Malaysia, Philippines, Indonesia
The National Institute of Population and Social Security Research (IPSS) estimated in a report that 33.4% of women born in 2005 would be childless. The number of children in Japan has been falling for more than four decades as the appetite for marriage and parenting has waned and financial worries have grown, surveys show. That trend could itself be causing a vicious cycle of fewer children begetting fewer children, said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute. As people have fewer children, they are able to spend more on each child than families have in the past. That drives up the average cost of raising a child for the broader population, putting some people off from having children, he said.
Persons: Eita Sato, Aoi Hoshi, Issei Kato, Fumio Kishida, Anna Tanaka, Miho Iwasawa, Iwasawa, Takuya Hoshino, IPSS, Satoshi Sugiyama, Chang, Ran Kim, Robert Birsel Organizations: Junior High School, REUTERS, Rights, National Institute of Population, Social Security Research, Kyodo, Reuters, Dai, Research, Thomson Locations: Fukushima Prefecture, Japan, one's
FILE PHOTO-An office employee walks in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Aug 25 (Reuters) - Japanese ministries' budget demands for the next fiscal year will likely top 110 trillion yen ($753 billion), the Nikkei business daily reported on Friday, with rising interest rates expected to boost debt servicing costs. This fiscal year's budget stood at 114 trillion yen. It would be the third straight year that budget requests exceed 110 trillion yen and may top a record 111.6 trillion yen requested for fiscal 2022. It's only natural for debt-servicing costs to rise under such circumstances," said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute.
Persons: Androniki, Takuya Hoshino, Fumio, Tetsushi Kajimoto, Diane Craft, Jacqueline Wong Organizations: REUTERS, Rights, Nikkei, Bank of, Dai, Research, Thomson Locations: Japan, Tokyo, China, North Korea
Ventilation stacks and cranes at the disabled Fukushima Dai-ichi nuclear power plant are seen from a beach in Namie, about 7 km away from the power plant, in Fukushima Prefecture, Japan, February 28, 2023. REUTERS/Kim Kyung-Hoon/File PhotoTOKYO, Aug 7 (Reuters) - Japan plans to start releasing treated radioactive water from the tsunami-wrecked Fukushima nuclear power plant into the ocean as early as late August, Japan's Asahi Shimbun daily reported on Monday, citing unnamed government sources. Japan's nuclear regulator last month granted approval for plant operator Tokyo Electric Power (9501.T) to start releasing the water - which Japan and the International Atomic Energy Agency say is safe but nearby countries fear it may contaminate food. Bottom trawling fishing is scheduled to start off Fukushima, northeast of Tokyo, in September, and the government aims to start the water discharge before the fishing season gets underway, the newspaper said. Reporting by Kiyoshi Takenaka; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.
Persons: Kim Kyung, Fumio Kishida, Joe Biden, Yoon Suk, Kiyoshi Takenaka, Diane Craft Organizations: REUTERS, Asahi Shimbun, U.S, South, Tokyo Electric Power, International Atomic Energy Agency, Thomson Locations: Fukushima Prefecture, Japan, United States, Fukushima, Tokyo
Yet, with services price growth also slowing last month, policymakers will feel that wage pressures have yet to build up enough to warrant an imminent tweak to the ultra-loose monetary stance. We'll likely see inflation slow in coming months, which would allow the BOJ to keep policy steady for the time being," said Toru Suehiro, chief economist at Daiwa Securities. "While services prices may rise next year, those for goods will stay weak. "If more firms hike wages and pass on the cost, services prices could overshoot," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. "Inflation excluding food and energy will likely moderate ahead, but the pace of slowdown could be gradual."
Persons: We'll, Toru Suehiro, Kazuo Ueda, Yoshiki Shinke, Leika Kihara, Takahiko Wada, Sam Holmes Organizations: Bank of Japan, Daiwa Securities, Reuters Graphics Services, Dai, Research, Thomson Locations: TOKYO, Japan
TOKYO, July 14 (Reuters) - Japan called on China to approach the release of radioactive water from the Fukushima nuclear power plant in a scientific manner at a meeting held between Japan Foreign Minister Yoshimasa Hayashi and Chinese top diplomat Wang Yi on Friday. China has criticised Japan's plan to release over one million tonnes of water from the wrecked Fukushima Dai-ichi Nuclear Power Plant starting this summer. Hayashi said that Japan was ready to communicate with China about the water discharge from a scientific perspective, according to the statement. The treated water will be diluted to well below internationally approved levels of tritium before being released into the Pacific. Hayashi also defended the plan at an ASEAN meeting on Thursday and claimed China was making "claims not rooted in scientific evidence", according to Japan's foreign ministry.
Persons: Yoshimasa Hayashi, Wang Yi, Hayashi, Wang, Sakura Murakami, Himani Sarkar, Michael Perry Organizations: Japan Foreign, ichi, Plant, Association of Southeast Asian Nations, ASEAN, Thomson Locations: TOKYO, Japan, China, Indonesia, Russia
[1/3] Yuna Kato works with male students at her college club to produce a light human-powered aircraft at the school, at Tokyo University in Tokyo, Japan June 30, 2023, in this screen grab from video. Kato has made it this far, but many aspiring female engineers choose a different path due to the social stigma, creating a massive headache for Japan. That is despite Japanese girls scoring second-highest in the world in maths and third in science, according to the OECD. School officials felt women were more likely to quit working after having children and would waste their education. NO DIVERSITY, NO INNOVATIONMore schools and companies including Mitsubishi Heavy Industries (7011.T) and Toyota (7203.T) are offering scholarships to female STEM students to attract talent.
Persons: Yuna Kato, Chris Gallagher TOKYO, Kato, Li, It's, Minoru Taniura, Kyoko Ida, ichi, we've, Mariko Katsumura, Mayu Sakoda, Rocky Swift, Chang, Ran Kim, Sonali Paul Organizations: Tokyo University, REUTERS, OECD, Reuters, Kato's Tokyo Institute of Technology, Mitsubishi Heavy Industries, Toyota, Mitsubishi, Panasonic, Thomson Locations: Tokyo, Japan, Mazda's
[1/2] A discharge outlet being constructed to release Advanced Liquid Processing System (ALPS) treated water into the sea stands in the water, at the disabled Fukushima Dai-ichi nuclear power plant in Okuma town, Fukushima prefecture, Japan, March 8, 2023. REUTERS/Kim Kyung-Hoon/File PhotoSEOUL, July 5 (Reuters) - South Korea will issue its own response as soon as possible after the U.N. nuclear watchdog approved Japan's plan to release treated radioactive water from the tsunami-wrecked Fukushima plant into the ocean, a government official said on Wednesday. Seoul would give its assessment of IAEA's examination of Japan's wastewater discharge plan when it announces its own review, Park said. South Korea's Agriculture Minister Chung Hwang-keun said on Tuesday the country will not lift a ban on Japanese food products from the area around the crippled Fukushima nuclear plant until public concern over contamination ease. IAEA chief Rafael Grossi, now in Japan, will visit South Korea from July 7 to 9 to explain the organisation's findings on Japan's planned discharge of water.
Persons: Kim Kyung, Japan's, Chung Hwang, keun, Rafael Grossi, Soo, Choi, Ed Davies Organizations: Processing, REUTERS, International Atomic Energy Agency, South Korea's, IAEA, Korea's Agriculture, Thomson Locations: Okuma, Fukushima prefecture, Japan, SEOUL, South Korea, Seoul, Tokyo
In Asia, while factory activity expanded marginally in China, it contracted in Japan and South Korea as Asia's economic recovery struggled to maintain momentum. REUTERS/Siyi LiuChina's Caixin/S&P Global manufacturing PMI eased to 50.5 in June from 50.9 in May, the private survey showed. The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No. South Korea's PMI fell to 47.8 in June, extending its downturn to a record 12th consecutive month on weak demand in Asia and Europe. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed.
Persons: Rory Fennessy, lockdowns, Toru Nishihama, Siyi Liu China's, Jonathan Cable, Sam Holmes, David Evans Organizations: PMI, European Central Bank, Oxford Economics, P, Dai, Research, REUTERS, P Global, Reuters, Jibun, of, International Monetary Fund, Thomson Locations: Japan, South Korea, China, TOKYO, Europe, Britain, Asia, United States, European, U.S, Dezhou, Shandong province, South, Taiwan, Vietnam, Malaysia, of Japan's
While manufacturing activity expanded marginally in China, it contracted in powerhouses Japan and South Korea as Asia's fragile economic recovery struggled to maintain momentum. New orders from overseas customers decreased in June at the fastest rate in four months reflecting feeble demand from China, the Japan PMI survey showed. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed. Asia's economy is heavily reliant on the strength of China's economy, which saw growth rebound in the first quarter but subsequently fell short of expectations. The fate of Asia's economy, including China's, will have a huge impact on the global economy with aggressive monetary tightening to curb inflation likely to weigh on U.S. and European growth.
Persons: Liu, lockdowns, Toru Nishihama, Leika Kihara, Sam Holmes Organizations: REUTERS, PMI, Dai, Research, P Global, Reuters, Jibun, Japan PMI, International Monetary Fund, Thomson Locations: Dezhou, Shandong province, China, Japan, South Korea, TOKYO, Asia, U.S, Europe, Taiwan, Vietnam, Malaysia
However, there is uncertainty about how long households can weather price hikes and generate inflation driven more by demand, which holds the key to whether BOJ's 2% target can be achieved in a sustainable manner, analysts say. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, rose 3.2% in June from a year earlier, accelerating from a 3.1% gain in May. While companies offered wage hikes unseen in three decades this year, inflation-adjusted real pay continues to fall in a sign of pain consumers are feeling from the wave of price hikes. BOJ Governor Kazuo Ueda has repeatedly said the BOJ will maintain ultra-loose policy until stronger wage growth keeps inflation sustainably around its 2% target. "The BOJ may revise up its inflation forecast but probably keep policy steady in July," said Takeshi Minami, chief economist at Norinchukin Research Institute.
Persons: Yoshiki Shinke, Teikoku Databank, Kazuo Ueda, Ryozo Himino, Takeshi Minami, Takahiko Wada, Leika, Satoshi Sugiyama, Kantaro, Sam Holmes Organizations: Bank of Japan, Dai, Research, Reuters, BOJ, Norinchukin Research, Thomson Locations: Tokyo, TOKYO
TOKYO, June 15 (Reuters) - The Pacific island nation of Palau has asked the United States to step up patrols of its waters after several recent incursions by Chinese vessels into its exclusive economic zone, President Surangel Whipps Jr. told Reuters in an interview. Palau identified Chinese vessels in its waters as recently as last month, when a ship appeared to be surveying an area near fibre optic cables vital to the country's communications, Whipps Jr. said. He said he would raise the issue of the incursions at the regional Pacific Islands Forum leaders meeting in November. The plan has been criticised by some local fishermen and neighbouring countries, including South Korea, China, and some Pacific island nations. But Whipps Jr. said he was not opposed to the plan and that he sensed regional resistance was also waning.
Persons: Surangel Whipps Jr, Whipps Jr, Whipps, Lloyd Austin, We've, Sakura Murakami, John Geddie, Michael Perry Organizations: Reuters, Pentagon, Pacific Islands Forum, U.S . Defense, U.S, ichi, Thomson Locations: TOKYO, Palau, United States, Washington, Beijing, Tokyo, Micronesia, Marshall, China, Solomon, U.S, Australia, New Zealand, Papua New Guinea, Singapore, Japan, South Korea
TOKYO, May 19 (Reuters) - A team of around 30 South Korean experts will visit Japan during May 22-25 to inspect facilities related to water release from the wrecked Fukushima Dai-ichi nuclear power plant, Japan's foreign ministry said on Friday. The visit was agreed during Japanese Prime Minister Fumio Kishida's visit to Seoul earlier this month as his counterpart, South Korea's President Yoon Suk-yeol, is seeking to improve relations with Japan after years of tensions. Japan plans to release the water from Tokyo Electric Power Co's (9501.T) Fukushima plant, which was destroyed during the 2011 nuclear disaster, into the sea sometime "around this spring or summer, raising concerns in neighbouring countries. Reporting by Kantaro Komiya; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
It will be a tug-of-war between robust domestic demand and sluggish exports," he said. The growth followed a 0.1% fall in the final quarter of last year, which was revised down from a 0.1% rise. Japan economy expands more than expectedPrivate consumption, which makes up more than half the economy, grew 0.6% in January-March from the previous quarter, as the country's re-opening from the pandemic boosted service spending. The strength in domestic demand offset weakness in exports, which slumped 4.2% in January-March, marking the first decline in six quarters. External demand, or net exports, shaved 0.3% percentage point off gross domestic product (GDP), highlighting the strain on manufacturers from slowing overseas growth.
SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders will on Tuesday look for ways to tighten safeguards to address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances the use of existing currency swap lines, and allows members to tap funds in emergencies, said three sources with direct knowledge of the matter. But the swap lines have never been used, not even during the COVID-19 pandemic, leading to calls within the group for the system to be more accessible. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.
SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders on Tuesday will debate ways to beef up regional safeguards to better address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting of ASEAN+3 nations with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances usage of existing currency swap lines, and allows members to tap funds in times of emergencies such as pandemics and natural disasters, said three sources with direct knowledge of the matter. But the swap lines have never been used, including during the COVID-19 pandemic, giving rise to calls from within the group to make the system more easily accessible in the event of shock events. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.
Japan's consumer inflation held steady above the central bank's target in March and an index excluding fuel costs rose at the fastest annual pace in four decades, data showed, indicating broadening price pressure in the world's third-largest economy. "Inflationary pressure is proving stronger than expected and could last for longer than thought," said Shinke Yoshiki, chief economist at Dai-ichi Life Research Institute. "But there's still a lot of uncertainty on whether wages will rise durably and underpin consumption, which may keep the BOJ in a holding pattern." The core consumer price index, which excludes volatile fresh food, but includes energy costs, rose 3.1% in March from a year earlier, government data showed on Friday, matching a median market forecast. It followed February's increase of 3.1%, which was a sharp slowdown from January's 41-year high of 4.2%, due largely to the effect of government subsidies to soften the cost of utility bills for homes.
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