植田和男在新闻发布会上的评论尽显鸽派，这也更清晰地表明，日本央行可能需要等到至少3月份才会加息。Economists and strategists at Bank of America pointed out in a report that, given Governor Ueda's dovish comments, the Bank of Japan may raise interest rates in March next year instead of January, and the dollar may rise to the level of 160 against the yen in the short term.
In the coming days, the US dollar against the Japanese yen still has room to rise further from the current level of 157, and the market may test the Japanese Ministry of Finance's bottom line by pushing the exchange rate up to 160.
Nevertheless, the threshold for conducting Forex interventions remains high, as "year-end liquidity tends to be low, and direct Forex interventions could lead to significant market volatility, complicating risk management for businesses." Therefore, Japanese authorities may wait until the US dollar against the Japanese yen rises above 160 before intervening.
Ueda Kazuo's comments at the press conference displayed a dovish stance, indicating more clearly that the Bank of Japan may need to wait until at least March to raise interest rates.
Bank of America now expects the Bank of Japan to raise interest rates in March and October of next year, as well as in April 2026, compared to previous predictions of January and July next year, and January 2026.
