Notes today: 

• Inflationary pressures are rising in Japan after a long hiatus.
• Japan's consumer prices rose by 2.5% YoY in April 2022, the most since October 2014.  Core consumer prices rose 2.1% YoY, and beating the BoJ’s 2% target for the first time in seven years. 

• The possibility of Japan intervening directly in currencymarkets to stem the yen’s slide can’t be ruled out, according to Takehiko Nakao, former head of foreign exchange policy at the finance ministry.
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