A little more than six months ago, that rate was near zero. It has raised its key interest rate to a range of 3% to 3.25%. That was the highest increase in eight years.Ĭentral banks around the world have mostly been raising interest rates to fight inflation and much of the focus has been on the Fed. Japan’s core consumer prices rose 3.0% in September from a year earlier, according to government data released Friday. The latest inflation data from Japan is another reminder that stubbornly high prices remain a global problem. “Until there is a meaningful pivot driven by a drop in inflation, it’s a huge headwind to the market.” “The concern is still that bond yields are heading higher and the Fed is not signaling a pivot," said Ross Mayfield, investment strategist at Baird.
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