Japan July consumer prices post biggest annual fall in three yrs (TIME FOR A NIRP DOUBLE-DOWN?)

http://www.reuters.com/article/us-japan-economy-cpi-idUSKCN111004

Japan's consumer prices fell in July by the most in more than three years as more firms delayed price hikes due to weak consumption, keeping the central bank under pressure to expand an already massive stimulus program.
The gloomy data reinforces a dominant market view that premier Shinzo Abe's stimulus program have failed to dislodge the deflationary mindset prevailing among businesses and consumers.
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"Given how prices are behaving and how the BOJ is asked to cooperate with Abe to beat deflation, it's very hard to think the BOJ will unwind stimulus any time soon," said Takeshi Minami, chief economist at Norinchukin Research Institute.
"Instead, the September analysis will probably lay the grounds for a deepening of negative interest rates."