#以太坊行情解读 The Bank of Japan once again takes action: raises interest rates by 25 basis points, signaling a further shift in policy

Yesterday, the Bank of Japan announced a new round of monetary policy decisions—raising interest rates by 25 basis points, with the uncollateralized overnight call rate adjusted to approximately 0.75%. This is the second move by the central bank in 11 months since January this year, and the rate has also hit a 30-year high.

It appears that the Bank of Japan is determined to gradually tighten its policy.

The core logic of the statement is clear: corporate wages continue to rise moderately, and this momentum is unlikely to be interrupted in the short term. As wage increases are passed on to the prices of goods and services, the core CPI shows a gentle upward trend. A benign cycle of wages and prices rising in tandem is forming.

The central bank judges that the probability of the core CPI inflation rate being broadly consistent with the 2% price stability target is increasing. From this perspective, moderate tightening of monetary easing has become "reasonable." But there is a key point— even after the rate hike, the real interest rate is expected to remain significantly negative, and the financial environment remains fundamentally accommodative.

In other words, the central bank is not aggressively raising rates but adjusting in a measured manner. It will continue to raise policy rates in the future, provided that economic activity and prices continue to improve.

For traders, this means the global liquidity environment is gradually changing. Japan was once a typical example of ultra-loose policy, but now it is beginning to normalize, which will affect cross-border capital flows and, in turn, influence the pricing of global risk assets, including cryptocurrencies. At the same time, external uncertainties—such as overseas economic conditions, actual wage and price behaviors of enterprises, and financial market volatility—may interfere with the Bank of Japan’s subsequent pace.