野村证券：关注日本央行的加息目标是否转变

Nomura: Focus on whether the Bank of Japan's rate hike targets are shifting

Odaily Planet Daily News Nomura Research Institute wrote in a research report that the Bank of Japan (BOJ) currently faces an environment interwoven with multiple factors, making policy decisions particularly complex. This also highlights the importance of central bank communication. Going forward, the BOJ needs to explain more clearly how rate hikes will affect the economy through specific mechanisms and what effects are expected, compared to historical experiences. At the same time, it is necessary for the BOJ to clearly articulate the goals of its tightening policy. To date, the BOJ has described its policy tightening as an "adjustment of the degree of monetary easing."

If the BOJ incorporates "curbing upside risks to underlying inflation" and "containing inflation expectations" into its rate hike targets, it will affect the pace of future rate hikes and the BOJ's communication style. Whether this rate hike will strengthen the confidence of markets and the public in the BOJ will largely depend on the performance at the deputy governor's press conference following the policy meeting. (Jinshi)