通胀压力顽固，日元持续疲软，加息给日本带来“双重考验”

Group 1 - The Bank of Japan raised its policy interest rate by 25 basis points to 0.75%, marking the highest level in 30 years, signaling a significant shift in monetary policy [2][5] - The central bank indicated that there is room for further rate increases as long as the economic growth outlook does not change significantly [2] - The recent depreciation of the yen, which fell to a 10-month low against the dollar, was a key factor prompting the rate hike, as it has led to rising import-driven inflation [2][6] Group 2 - The Bank of Japan aims to stabilize inflation around 2% while promoting real wage growth, which has been negative, to achieve sustained economic growth [3] - Concerns have been raised that the rate hike could exacerbate economic downturn risks, particularly for small and medium-sized enterprises facing increased financing costs [4] - The rising interest rates are expected to negatively impact household finances, with estimates suggesting an annual increase in expenses for indebted households [4] Group 3 - Despite the interest rate hike, the yen's exchange rate did not improve and continued to depreciate, reflecting a lack of confidence in the effectiveness of the monetary tightening [6] - Japan's trade balance has shown a deficit for four consecutive years, contributing to ongoing depreciation pressures on the yen [6][7] - The government's recent economic stimulus plan, amounting to 18.3 trillion yen, has raised concerns about fiscal discipline and could further undermine the yen's credibility [7]