德商银行：日本央行应适度转鹰以稳日元

Core Viewpoint - The Japanese central bank is likely to maintain its policy interest rate at 0.75% in the upcoming decision, as inflation is approaching the 2% target, providing support for policy stability [1] Group 1: Interest Rate Decision - The Japanese central bank is expected to keep the interest rate unchanged at 0.75% due to inflation nearing the 2% target [1] - The decision is influenced by the need for policy stability amid current economic conditions [1] Group 2: Currency Concerns - The central bank is cautious about the recent depreciation of the yen, which has been driven by domestic political risks, including the Prime Minister's announcement of early elections [1] - There is a market expectation for potential "verbal intervention" or actual market intervention by Japanese authorities to support the yen [1] Group 3: Market Reactions - The wording of the policy statement, comments on the exchange rate, and hints about future interest rate paths will be critical in influencing the short-term movement of the yen [1] - The central bank may adopt a slightly firmer stance to prevent further pressure on the yen [1]