尽管前景乐观，但日本央行7月决定并施压后日元走软。今年7月，日本央行一致投票将基准利率维持在0.5%，同时上调了2025财年的通胀前景。以下是日元的反应。

JPY Weakens After July BOJ Decision And Presser Despite Optimistic Outlook.The Bank of Japan maintained its benchmark interest rate at 0.5% by unanimous vote this July while upgrading its inflation outlook for fiscal 2025. Here's how the yen reacted.

周五，日元兑美元汇率徘徊在150.7左右，徘徊在四个月低点，因为在唐纳德·特朗普总统采取最新关税行动后，美元保持坚挺。特朗普重申了10%的全球关税，并对没有最终达成贸易协议的国家征收高达41%的高额互惠税，同时对转运货物征收40%的关税——这些举措加剧了全球贸易紧张局势，提振了美元需求。与此同时，日本央行周四维持利率不变，但上调了本财年的通胀预期。政策制定者保持谨慎的基调，理由是对潜在通胀暂时下降的预期以及全球贸易风险的不确定性加剧。对外部需求放缓和美国政策收紧的担忧继续对日元构成压力。

The Japanese yen hovered around 150.7 per dollar on Friday, lingering at a four-month low as the dollar held firm following President Donald Trump’s latest tariff actions. Trump reaffirmed a 10% global tariff and introduced steep reciprocal levies of up to 41% on countries without finalized trade deals, along with a 40% tariff on transshipped goods — moves that stoked global trade tensions and boosted dollar demand. Meanwhile, the Bank of Japan kept interest rates unchanged on Thursday but raised its inflation forecast for the current fiscal year. Policymakers maintained a cautious tone, citing expectations of a temporary dip in underlying inflation and heightened uncertainty over global trade risks. Concerns about the impact of slowing external demand and tighter US policy continued to weigh on the yen.

上调通胀预测不会改变日本央行的利率。尽管通胀预测上调，但日本央行在考虑下一次降息的时机时，仍将重点放在通胀的需求驱动因素上。

Upward Revision in Inflation Forecasts Won't Move the Needle on Rates for BoJ.Despite an upward revision in the forecast for inflation, the Bank of Japan remains squarely focussed on demand-side drivers of inflation when considering the timing of the next cut.

日本央行目前仍在进行10月加息。日本央行（BoJ）在今天的货币政策会议上将政策利率稳定在0.50%，这是一个普遍预期的结果。今天的决定也是美国和日本7月达成贸易协议后的第一次宣布，两国同意对美国从日本进口的大部分商品征收15%的关税，重要的是包括汽车行业。

Bank of Japan Still on Course for October Hike, For Now.The Bank of Japan (BoJ) held its policy rate steady at 0.50% at today's monetary policy meeting, in a widely expected outcome. Today's decision was also the first announcement following the trade deal reached between the U.S. and Japan in July, which saw the two countries agree to a tariff rate of 15% on most U.S. imports from Japan, importantly including the auto sector.