Mitsubishi UFJ: The slower pace of interest rate hikes by the Bank of Japan may suppress the strength of the yen.

Jin10 data reported on May 1st, Mitsubishi UFJ analyst Lee Hardman stated in a report that the prospect of a slowdown in the Bank of Japan's interest rate hike pace may help curb the recent strength of the yen. The Bank of Japan maintained interest rates on Thursday while being more cautious about the prospects for further rate hikes, lowering its economic growth and inflation expectations. This should suppress the strength of the yen. However, if global economic growth continues to slow and other major central banks further cut interest rates, the trend of yen appreciation is unlikely to reverse.