植田和男淡化通胀风险 日元创四月来最大跌幅重返150关口

Group 1 - The Bank of Japan maintained its interest rates and raised inflation expectations, but the comments from Governor Kazuo Ueda were perceived as not sufficiently hawkish, leading to a significant depreciation of the yen [1][3][4] - Following the central bank meeting, the yen initially strengthened but reversed course after Ueda's remarks, dropping 0.4% to 150.04, marking a new low since April 2 [3][4] - Analysts noted that the central bank's lack of a hawkish stance diminished market expectations for a near-term rate hike, with the probability of a rate increase for the year now at 66%, up from 59% before the US-Japan trade agreement [4][5] Group 2 - The recent US-Japan trade agreement, which includes a 15% tariff imposed by the US, has complicated the Bank of Japan's policy-making, as Ueda indicated that the agreement would make it easier to assess the impact of tariffs in the coming months [5][6] - Political instability in Japan has further complicated market dynamics, with Prime Minister Shigeru Ishiba's ruling coalition losing its majority in the upper house, raising concerns about potential increases in government spending [5][6] - The uncertainty surrounding domestic politics has weakened the yen and increased long-term government bond yields, with analysts suggesting that the decision to maintain interest rates was more about disaster control than a directional policy shift [6]