If we look only at the inflation numbers in Tokyo for April, we can say that the 2% was certainly achieved by the BOJ. However, this leap is only thanks to the hike of the sales tax in Japan, from 5% to 8%, and it actually came out below expectations. If this enough to trigger more action from the BOJ and weaken the yen? Not so fast, but after a full year of the massive QE blitz, the results could have been better. If the level of inflation rises only at this pace, we can certainly expect more action later in the year. Tokyo, Japan’s capital, released inflation numbers for April, when the hike occurred. Headline CPI jumped 2.9% year over year after 1.3% in March. Tokyo CPI without food and energy rose 2% after only 0.4% beforehand and the Tokyo CPI excluding fresh food rose 2.7%, below expectations for a rise of 2.8%. This is the miss. The national figures are for the month of March. Also here, the critical ex-fresh food figure remained at 1.3% and did not advance to 1.4% as expected. So even before the hike, Japan’s consumers did not really storm the stores. Headline national CPI for March rose to 1.6%. And now, with the tax raise behind us, we can expect consumption to drop. The value of the yen has been stable against the dollar and the euro recently, with USD/JPY sitting in a comfortable range of 102 to 102.74 during most of the period. So far, these figures haven’t taken the pair out of range and the BOJ is also reluctant to act. The BOJ’s waiting game will not last forever. As the Bank of Japan convenes quite frequently, we can expect to hear their reaction quite soon: April 30th. For more, see the USDJPY forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next UK retail sales surprise – GBP/USD rises Yohay Elam 8 years If we look only at the inflation numbers in Tokyo for April, we can say that the 2% was certainly achieved by the BOJ. However, this leap is only thanks to the hike of the sales tax in Japan, from 5% to 8%, and it actually came out below expectations. If this enough to trigger more action from the BOJ and weaken the yen? Not so fast, but after a full year of the massive QE blitz, the results could have been better. If the level of inflation rises only at this pace, we can certainly expect more action later… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.