日银维持政策利率0.5%，连续4次会议不变

Core Viewpoint - The Bank of Japan has maintained its policy interest rate at 0.5% for four consecutive meetings since the increase in January, while considering further rate hikes based on economic and price improvements [1][2] Group 1: Monetary Policy Decisions - The Bank of Japan decided to keep the uncollateralized overnight call rate target at 0.5% during the monetary policy meeting on July 31, with unanimous approval from all nine policy board members [1] - The market is closely watching for clues regarding the timing of the next interest rate hike, as the Bank of Japan continues to assess the impact of U.S. tariff policies on Japan's economy [1][2] Group 2: Economic and Price Outlook - The outlook report indicates an upward revision of the consumer price index (CPI) growth forecast for fiscal year 2025, from 2.2% to 2.7%, reflecting recent price increases in Japan [1] - The CPI forecasts for fiscal years 2026 and 2027 have been slightly adjusted to 1.8% and 2.0%, respectively, from previous estimates of 1.7% and 1.9% [2] - The forecast for Japan's real GDP growth rate for fiscal year 2025 has been revised from 0.5% to 0.6%, while the projections for 2026 and 2027 remain unchanged at 0.7% and 1.0% [2]