Institution: With uncertainty sharply on the rise, the Bank of Japan is expected to keep interest rates unchanged

On April 30th: Japanese Monex Securities indicated that due to the significant increase in global uncertainty, the Bank of Japan is almost definite to maintain its policy rate unchanged. The impact of Trump's tariff policy on April 2nd has already dampened the prospect of the Bank of Japan raising rates further in the near term. The focus of the meeting may be on the outlook report. Inflation remains at a high level, and wage negotiations confirm that price pressures are still rooted in wage growth dynamics. How policymakers achieve a balance between inflation and the escalating global uncertainty will be crucial to the future interest rate path. It is still anticipated that the Bank of Japan will raise rates again later this year, with low confidence in a rate hike in September. This forecast will be re-evaluated after the meeting. (Fx678)