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2025-07-31 16:33:59
Japanese stocks closed higher, while the yen gave up gains as the Bank of Japan signaled caution. (1) After the Bank of Japan held interest rates steady and raised its inflation forecast, the Nikkei 225 index closed up 1% at 41,069.82, while the Topix index rose 0.8%. The dollar remained flat against the yen at 149.51, giving up a 0.6% gain from earlier trading. (2) Governor Kazuo Ueda stated that underlying inflation remains below the 2% target, and that monetary policy is more effective for demand-driven inflation. The 10-year Treasury yield fell 0.5 basis points to 1.085%, while the two-year yield remained flat at 0.82%. (3) Analysts noted differences in understanding between the US and Japan regarding the tariff agreement, and policy uncertainty persists. Previously, the market expected the central bank to resume rate hikes as early as October.
