Core Viewpoint - The Bank of Japan (BOJ) plans to sell approximately 3.3 trillion yen worth of ETFs annually, indicating a commitment to tightening monetary policy despite not raising interest rates at the recent meeting. The current pace suggests it would take 113 years to completely divest its holdings [1] Group 1: Bank of Japan's Actions - The BOJ has held 37 trillion yen in ETFs, which represents 3.5% of the total market capitalization of the Tokyo Stock Exchange [1] - The BOJ began purchasing Japanese stocks significantly in 2013 to support Abenomics and ceased these purchases only at the beginning of the interest rate hike cycle in early 2024 [1] - At its peak in 2020, the BOJ's holdings accounted for nearly 6% of the total market capitalization of Japanese stocks, with the recent decline in share percentage attributed to the rise in Japanese stock prices over the past two years [1] Group 2: Market Impact - The BOJ is now one of the top shareholders in over 200 companies within the Nikkei 225 index, highlighting its significant influence on the Japanese stock market [1]

Group 1 - The Bank of England decided to maintain the interest rate at 4%, aligning with market expectations, amid growing concerns over inflation rebound [1] - The Monetary Policy Committee voted 7 to 2 to keep rates unchanged, with some members advocating for a 25 basis point cut [1] - The Bank of England announced a slowdown in quantitative tightening to £700 billion, which also met market expectations [1] Group 2 - The Bank of England's stance contrasts sharply with the Federal Reserve, which recently cut rates and is expected to continue doing so [1] - Following the interest rate announcement, traders maintained their bets on a further 6 basis point cut this year [1] - The Bank of England warned that future rate cuts will be "gradual and cautious," depending on the persistence of potential inflationary pressures [1] Group 3 - Recent official data showed that the August inflation rate was nearly double the Bank of England's 2% target, with signs of stabilization in the labor market [2] - There is a deep division within the Bank of England regarding how to respond to the new wave of inflation driven by energy and food costs [2] - Rising household inflation expectations are concerning some officials, as they fear it may lead to increased wage demands and further price hikes, creating a feedback loop [2]

Core Viewpoint - The Bank of Japan's report indicates that due to slowing economic growth, core inflation may stagnate but is expected to gradually accelerate thereafter [1] Economic Growth - Economic growth in Japan is currently experiencing a slowdown, which is impacting inflation trends [1] Inflation Trends - The report suggests that while core inflation may stagnate in the short term, there is an expectation for a gradual increase in inflation rates in the future [1]

Core Viewpoint - The Deputy Governor of the Bank of Japan, Shinichi Uchida, indicated that there will always be both upside and downside risks to the economic outlook [1] Group 1 - The Bank of Japan is closely monitoring the economic situation and potential risks that could impact its monetary policy [1] - Uchida emphasized the importance of being prepared for various scenarios in the economic landscape [1] - The statement reflects the central bank's cautious approach amid ongoing global economic uncertainties [1]

Group 1 - The core viewpoint is that the Bank of Japan's Deputy Governor Shinichi Uchida emphasizes the adoption of risk management approaches in policy decision-making [1]

Core Viewpoint - The Bank of Japan is expected to maintain its benchmark interest rate next week, indicating that the upcoming elections will have little impact on its monetary policy stance [1] Group 1 - The Bank of Japan plans to observe the effects of trade negotiations before making any decisions on interest rate hikes [1] - There is a concern that significant fiscal easing could lead to upward risks in prices [1]

Core Viewpoint - The Bank of Japan is expected to provide an outlook on the impact of recent tariffs on the Japanese economy this month, but the tone will be less pessimistic compared to three months ago [1] Group 1 - The Bank of Japan is likely to address the economic effects of recent tariffs [1] - The outlook will reflect a more optimistic perspective than previously expressed [1]

Group 1 - The Bank of Japan may hold a less pessimistic view regarding the recent impact of tariffs [1]

Group 1 - The core finding of the Bank of Japan's June quarterly survey indicates that 85.1% of Japanese households expect prices to rise in the next year, a slight decrease from 86.7% in the previous survey [1]

Core Viewpoint - A majority of economists expect the Reserve Bank of New Zealand to maintain the interest rate at 3.25% on July 9, with a forecasted reduction to 3.00% in the third quarter [1] Group 1 - Out of 27 economists surveyed, 19 believe the interest rate will remain at 3.25% [1] - Among 22 economists, 16 anticipate a decrease in the interest rate to 3.00% in the third quarter [1] - The median forecast for the year-end interest rate is 3.00%, an increase from the previous survey's prediction of 2.75% [1]