Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, acknowledges progress made by G7 colleagues in combating inflation but highlights new challenges such as increased uncertainty in trade policies and more frequent supply-side shocks [1] Group 1 - The G7 colleagues feel relieved about the progress against inflation [1] - New challenges include heightened uncertainty in trade policies [1] - There is a need to address more frequent supply-side shocks [1]

Core Viewpoint - The European Central Bank Executive Board member Schnabel indicated that supply-side shocks may persist and could threaten the anchoring of inflation expectations, emphasizing the need for readiness to respond swiftly [1] Group 1 - Supply-side shocks are likely to continue affecting the economy [1] - There is a potential risk that inflation expectations could become unanchored due to these shocks [1] - The necessity for prompt responses to economic changes is highlighted [1]