22 December 2005, 10:01  Bank of Japan's Fukui sees strong chance of core CPI rising steadily ahead

Bank of Japan governor Toshihiko Fukui said there is a strong chance that the core consumer price index will rise steadily as the world's second-largest economy starts beating deflation. "Nationwide core CPI, which has been moving in negative territory, was zero in October and I now believe that the chance is high that the index will rise and gradually be on an uptrend ahead," Fukui said in a speech in Tokyo. In particular, the central bank head said he is "paying close attention to an upturn in prices of land in central Tokyo because it reflects upbeat expectations about the future outlook for the Japanese economy."

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