Bank of Japan Governor to Discuss Interest Rate Decision

According to BlockBeats, Bank of Japan Governor Kazuo Ueda is scheduled to hold a press conference at 3:30 PM local time (UTC+8) to elaborate on the recent interest rate decision and future rate paths. The market widely anticipates that the Bank of Japan will continue with a gradual, predictable, and data-dependent approach to raising interest rates, rather than adopting aggressive tightening measures. Following the announcement of the rate hike, the Japanese yen initially surged against the U.S. dollar but later retreated, falling below the 156 mark and declining by 0.3% during the day. The market's reaction indicates that the rate hike was largely anticipated by investors, supporting the central bank's assessment that the current rate adjustment is insufficient to alter the accommodative stance and is more of a step towards gradual normalization.