TOKYO: Japan’s unemployment rate in November dipped to its lowest level since November 1993, official data showed Tuesday, offering another sign that the world’s third-largest economy is on track to recovery even if the pace is slow. Japan has battled deflation for many years and the central bank’s ultra-loose monetary policy appears to be having limited impact. The core inflation rate was a 0.9 percent rise year-on-year in November, according to data published by the internal affairs ministry, far below the two-percent target set by the BoJ. Japan’s weak inflation stands in sharp contrast to other major economies whose central bankers are looking to wind up their easing policies. The US Federal Reserve last week announced a widely expected quarter point rate hike, and US policymakers have forecast another three rate hikes in 2018.

Source: The Star December 26, 2017 02:15 UTC