Group 1 - The Bank of Japan raised its policy interest rate by 0.25% to 0.75%, marking the highest level in 30 years since 1995 [1] - This rate hike is seen as a significant step towards normalizing monetary policy, with expectations that the macroeconomic environment in Japan will be favorable in 2024 [1] - The gradual pace of rate increases by the Bank of Japan is anticipated to lag behind the U.S. as the normalization process accelerates [1] Group 2 - The decision to raise rates is influenced by the balance between dovish and hawkish stances of the Bank of Japan's Governor, Kazuo Ueda [2] - A too accommodative policy could lead to further depreciation of the yen, while a too hawkish approach might trigger market sell-offs similar to those seen in July 2024 [2] - Japanese government bonds are expected to remain stable due to strong technical support and increased yield attractiveness, which will drive foreign capital inflows [2]

Core Viewpoint - The Norwegian central bank's committee believes that a tightening monetary policy is still necessary, but it is now appropriate to cautiously normalize the policy interest rate [1] Group 1 - The committee emphasizes the need for a tightening monetary policy [1] - The decision to normalize the policy interest rate is seen as a cautious approach [1]