Economic Analysis

[Institute: The possibility of the Bank of Japan's policy adjustment within the year is not ruled out] Makoto Sengoku, senior stock market analyst at Tokai Tokyo Research Institute, said that while the possibility of the Bank of Japan's policy adjustment in July is "rapidly decreasing", it cannot rule out the possibility of an adjustment later this year, depending on the trend of the yen. While I don't think the yield curve control program will be abolished, BOJ Governor Kazuo Ueda has previously said that changing the long-term yield target is something that could happen at any time.

"Mr. President, can you talk to us about the US government cabinet members being attacked by Chinese hackers and your concerns?" According to the US Fox News report, after US President Biden delivered a speech on artificial intelligence at the White House on the 21st local time, a reporter asked such a question. But Biden's response was to continue to leave with his back as if he hadn't heard it, and this caused controversy on American social media

[RBA Chairman Lowe: Further policy tightening is likely] RBA Chairman Lowe said today that despite keeping interest rates unchanged at the last meeting, it is "possible" to raise interest rates further. It is unclear whether more work needs to be done, and Lowe said that "some further tightening measures may be required to bring inflation back to target within a reasonable time frame." After that, it would be appropriate to keep rates steady this month and revisit the situation next month." Lowe said the last couple of rate hikes in May and June were likely to be enough to offset a series of worrying data suggesting Australia's The Fed may struggle to bring inflation back to its expected target by mid-2025. He also spelled out "headwinds" affecting the outlook for inflation. Rising rents, rising electricity prices, high unit labor costs (mainly due to slow productivity growth) and high capacity utilization are his top concerns, but several forces are working in the opposite direction, including supply chain normalization, a pullback in commodity prices, and slower growth in household consumption and overall demand