Core Viewpoint - The Bank of Japan (BOJ) is likely to continue raising interest rates if economic and price developments align with its forecasts, as stated by Governor Kazuo Ueda [1][3]. Group 1: Economic Conditions - Despite the impact of increased tariffs from the U.S. on corporate profits, Japan's economy experienced moderate recovery last year [1][3]. - Ueda indicated that wages and prices are likely to rise moderately in sync, suggesting that adjustments in monetary support could facilitate sustained economic growth [1][3]. Group 2: Interest Rate Changes - The BOJ raised its policy interest rate from 0.5% to 0.75%, marking a 30-year high and signaling the end of decades of large-scale monetary support and near-zero borrowing costs [1][3]. - The actual borrowing costs in Japan remain negative, as consumer inflation has exceeded the BOJ's 2% target for nearly four years [1][3]. Group 3: Market Reactions - The weak yen has increased import costs and broader inflation, prompting some committee members to call for further gradual interest rate hikes [2][4]. - On the same day, the dollar rose slightly against the yen, with market expectations for further BOJ rate hikes pushing the yield on the benchmark 10-year Japanese government bond to a 27-year high of 2.125% [2][4]. Group 4: Future Outlook - The market is focused on the BOJ's quarterly outlook report scheduled for January 22-23, which will provide insights into how the committee views the inflation impact of the recent yen depreciation [1][3].
植田和男开年首秀:只要物价达标,日本央行将继续加息!
Xin Lang Cai Jing·2026-01-05 09:24