植田和男新年首讲“放鹰”：日本央行加息进程将持续推进

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, emphasized the intention to continue raising the benchmark interest rate in response to economic recovery and inflation trends [1] Group 1: Interest Rate Policy - The Bank of Japan raised the benchmark interest rate to 0.75% on December 19, marking the highest level since 1995 [1] - Ueda indicated that timely adjustments to monetary easing policies are essential for achieving stable inflation targets and promoting long-term economic growth [1] - Market expectations suggest that the next rate hike may occur around mid-year, although some analysts warn that the risk of an earlier increase is rising due to a weak yen [1] Group 2: Economic Indicators - The yield on Japan's 10-year government bonds has reached its highest level since 1999, driven by market expectations of further rate hikes [1] - Ueda noted a positive cycle between moderate wage growth and inflation, which is expected to be maintained [1] - Japan's core inflation has remained above the central bank's 2% target for over three and a half years, leading to increased pressure on households due to rising living costs [2] Group 3: Currency Impact - The yen was trading around 157.18 against the dollar, having previously hit a two-week low of 157.25, with the exchange rate approaching a critical threshold of 160 [1] - The weak yen is contributing to higher import costs, exacerbating inflationary pressures in the economy [2]