安联投资：预计日本央行维持政策利率不变，但保持在加息的轨道上

Core Viewpoint - The Bank of Japan is expected to maintain its current policy interest rate during the July meeting while remaining on a path towards potential rate hikes [1] Economic Outlook - The upcoming quarterly economic outlook report may provide insights into how the Bank of Japan assesses the potential pressures on economic growth from recent tariff agreements [1] - The focus will be on the evaluation of the current risk environment by Bank of Japan Governor Kazuo Ueda [1] Political Environment - The completion of the US-Japan trade agreement has removed a significant external uncertainty [1] - Domestic political risks have increased significantly due to the ruling coalition led by the Liberal Democratic Party losing its majority in the House of Councillors, along with rising speculation about Prime Minister Shigeru Ishiba potentially resigning [1] Communication Strategy - Allianz Investment anticipates that the Bank of Japan will maintain flexibility in its communication to avoid providing clear policy guidance, while also trying to prevent the market from perceiving it as completely "staying put" [1]