Japan's sharp wholesale price rise in December - recap (& pressure on the BOJ)

The data is here from earlier:

• Japan December PPI +0.5% m/m (expected +0.3%) and +10.2% y/y (expected +9.5%)

Reuters have a recap piece up:

• For 2022, wholesale prices rose 9.7% on average from the previous year, hitting a record high since comparable data became available in 1981. It was much higher than a 4.6% gain in 2021.

Reuters add comments on the Bank of Japan meeting this week:

• Speculation is rampant in markets that the BOJ could soon phase out its massive monetary stimulus

I posted earlier previews of the meeting:

• Ahead of its monetary policy meeting beginning on Tuesday the BOJ to buy JGBs today
• TD say still plenty of room for yen gains, see as low as 120 by the end of March
• Bank of Japan preview - "may be on the verge of its biggest policy change in decades"