ING Bank: From the perspective of the Outlook Report, the Central Bank of Japan is more concerned about the weakness of the yen dragging down the economy.

Jinshi data news on July 31st, Min Joo Kang, a senior economist at ING in South Korea and Japan, said that the Central Bank of Japan’s interest rate hike today is because recent data has given the Central Bank of Japan confidence that the economy is in a virtuous cycle between wage rise and consumption. Although the yen’s trend has recently changed direction, in terms of the quarterly outlook, the Central Bank of Japan has lowered its GDP growth expectations for the current fiscal year from 0.8% to 0.6%, indicating that the Central Bank of Japan may be more concerned that excessive weakness in the yen could have a negative impact on the economy.