日本央行上田：通胀目标延迟不一定会推迟加息。在会后的新闻发布会上，日本央行上田和夫承认，美国“互惠”关税引发的全球贸易紧张局势激增，大大增加了全球政策方向的不确定性。他警告称，这些关税冲击将在短期内“影响”日本的增长和通胀，但表示希望随着海外经济的稳定，这些影响会逐渐消退。

BoJ's Ueda: Inflation target delay won't necessarily postpone rate hikes.At the post meeting press conference, BoJ Kazuo Ueda acknowledged that the surge in global trade tensions, sparked by the US's “reciprocal” tariffs, has sharply elevated uncertainty over global policy direction. He warned that these tariff shocks would “weigh on” on Japan's growth and inflation in the near term, but expressed hope that such effects would fade as overseas economies stabilize.

日经225指数飙升1.13%，至36452点，而周四更广泛的东证指数上涨0.46%，至2679点，日本股市在日本央行将政策利率保持在0.5%不变后创下一个月新高，正如预期的那样。日本央行下调了增长和通胀预测，表明近期加息的可能性较低，日本央行前景的鸽派倾向进一步提振了投资者情绪。日本央行目前预计2025年国内生产总值将增长0.5%，低于其1月份预测的1%。市场也欢迎对美日贸易谈判的重新乐观，此前唐纳德·特朗普总统在周三的讲话中暗示了达成协议的可能性。指数权重股领涨，迪斯科（+5.2%）、藤仓（+5.9%）、Advantest（+6.9%），任天堂（+2.7%）和日立（+4.6%）涨幅显著。

The Nikkei 225 Index surged 1.13% to 36,452, while the broader Topix Index rose 0.46% to 2,679 on Thursday, with Japanese equities hitting a one-month high after the Bank of Japan kept its policy rate unchanged at 0.5%, as expected. Investor sentiment was further boosted by a dovish tilt in the BOJ’s outlook, as the central bank cut its growth and inflation forecasts, signaling a lower likelihood of near-term rate hikes. The BOJ now projects GDP growth of 0.5% in 2025, down from 1% in its January forecast. Markets also welcomed renewed optimism over US-Japan trade talks, after President Donald Trump hinted at the possibility of a deal during remarks on Wednesday. Index heavyweights led the rally, with notable gains in Disco (+5.2%), Fujikura (+5.9%), Advantest (+6.9%), Nintendo (+2.7%), and Hitachi (+4.6%).

美元/日元继续上涨，因为上田传递了更多温和的信息。从更大的角度来看，该货币对正从140.00大关出现整齐的双底反弹。今天的上涨使该货币对现在达到三周来的最高点。

USD/JPY extends gains as Ueda delivers more dovish messaging.In the bigger picture, the pair is seeing a neat double-bottom bounce off the 140.00 mark. And the jump higher today sees the pair now move to its highest in three weeks.

日本央行上田：贸易政策的不确定性急剧上升。日本央行行长Kazuo周四在新闻发布会上解释了该行连续第二次将利率维持在0.50%的决定。

BoJ's Ueda: Uncertainty from trade policies heightened sharply.Bank of Japan (BoJ) Governor Kazuo addresses a press conference on Thursday, explaining the Bank's decision to maintain the interest rate at 0.50% for the second consecutive meeting.