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Price pressure moderates despite rebound in activity

The economy appears to have grown rapidly last quarter, and the labour market has not been as tight since the late 1990s. However, wage growth remains sluggish despite a temporary boost from winter bonuses, and price pressure continues to moderate. With the yen having appreciated following the launch of quantitative easing by the ECB and domestic energy prices set to decline further, inflation may turn negative again in coming months. 

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