Group 1 - The core viewpoint is that the Bank of Japan should continue to adjust its monetary easing policy if it can confirm that corporate positive behaviors are sustained [1]

Group 1 - The Bank of Japan's Governor Ueda Kazuo indicated that if the economy improves as expected, the central bank will continue to raise the benchmark interest rate, which has strengthened the yen [1] - Ueda stated that the central bank has lowered its economic and inflation outlook due to increased uncertainty, particularly related to trade policy risks, but still expects core inflation to gradually approach 2% in the latter half of the forecast period [1][2] - Japan's core CPI accelerated to 3.5% year-on-year in April, marking three consecutive years of meeting or exceeding the central bank's target, with expectations for May data to continue this trend [1] Group 2 - Ueda highlighted that Japan is experiencing a second round of supply shocks due to soaring food prices, which requires close monitoring, particularly the transmission effect of food inflation on core inflation [2] - The government plans to release more rice reserves to stabilize the market and has introduced energy subsidies covering gasoline, natural gas, and electricity to alleviate household financial pressure [2] - The Bank of Japan halved its growth forecast for the current fiscal year and postponed the timeline for achieving its inflation target by one year, which was interpreted as a dovish signal [3]

Core Viewpoint - The Bank of Japan's meeting minutes indicate that a member suggested the need for flexible adjustments to the degree of monetary easing to prevent overheating in financial activities [1] Group 1 - A member of the Bank of Japan expressed concerns about the potential overheating of financial activities [1] - The suggestion emphasizes the importance of adjusting monetary policy in a flexible manner [1]