Japan’s inflation stays above central bank target for 3rd month

Bank of Japan is keeping ultra-low interest rates in place even as global peers tighten policy to cool rising prices.

Japan’s core consumer inflation remained above the central bank’s 2 percent target for a third straight month in June, as the economy faced pressure from high global raw material prices that have pushed up the cost of the country’s imports.

The rise in consumer prices challenges the Bank of Japan’s view that recent price hikes in the world’s third-largest economy…