周二，日本10年期政府债券收益率升至1.45%以上，标志着日本央行如普遍预期的那样将政策利率维持在0.5%不变后，连续第二天上涨。央行还将其日本政府债券缩减计划保持到2026年3月，但表示如果条件允许，愿意进行调整。政策制定者仍持谨慎态度，密切关注油价上涨的通胀影响，并寻求美国贸易政策演变的明确性。在贸易方面，日本媒体报道称，日本首相石破茂和美国总统唐纳德·特朗普在加拿大举行的七国集团峰会上未能达成关税协议。地缘政治紧张局势也依然加剧。特朗普呼吁在以色列持续空袭的情况下全面撤离德黑兰，重申伊朗应该签署他提出的核协议。

Japan’s 10-year government bond yield rose above 1.45% on Tuesday, marking a second consecutive day of gains after the Bank of Japan left its policy rate unchanged at 0.5%, as widely expected. The central bank also kept its Japanese government bond tapering plan in place through March 2026 but signaled openness to adjustments if conditions warrant. Policymakers remain cautious, closely monitoring the inflationary effects of elevated oil prices and seeking clarity on evolving US trade policy. On the trade front, Japanese media reported that Prime Minister Shigeru Ishiba and US President Donald Trump failed to reach a tariff agreement during the G7 summit in Canada. Geopolitical tensions also remained elevated. Trump called for the full evacuation of Tehran amid continued Israeli airstrikes, reiterating that Iran should have signed his proposed nuclear deal.

周二，日元兑美元汇率跌至145日元，在日本央行根据市场预期将政策利率维持在0.5%不变后，日元连续第三个交易日下跌。央行还将其现有的日本政府债券缩减计划维持到2026年3月，但表示准备在必要时调整该计划。政策制定者在评估油价上涨对通胀的影响时仍持谨慎态度，并等待美国贸易政策的进一步明确。有报道称，日本首相石破茂和美国总统唐纳德·特朗普在加拿大举行的七国集团峰会上未能达成关税协议，日元也面临着额外的压力。与此同时，在地缘政治和通胀风险上升的情况下，美元普遍走强。在最近的事态发展中，特朗普总统呼吁在以色列持续空袭的情况下全面撤离德黑兰，重申伊朗应该签署他提出的核协议。

The Japanese yen weakened toward 145 per dollar on Tuesday, extending its losing streak to a third session after the Bank of Japan left its policy rate unchanged at 0.5%, in line with market expectations. The central bank also maintained its existing Japanese government bond tapering plan through March 2026 but signaled a readiness to adjust the program if needed. Policymakers remain cautious as they assess the inflationary impact of higher oil prices and await greater clarity on US trade policy. The yen also faced additional pressure following reports that Prime Minister Shigeru Ishiba and US President Donald Trump failed to reach a tariff agreement during the G7 summit in Canada. Meanwhile, the US dollar strengthened broadly amid rising geopolitical and inflationary risks. In the latest developments, President Trump called for the full evacuation of Tehran amid continued Israeli airstrikes, reiterating that Iran should have signed his proposed nuclear deal.

日本央行利率决定后，欧元/日元保持在167.50附近。日本央行利率决定后，欧元/日元保持在167.50附近

EUR/JPY holds position near 167.50 after BoJ interest rate decision.EUR/JPY holds position near 167.50 after BoJ interest rate decision

日本央行（BoJ）在6月份的会议上将其关键短期利率保持在0.5%不变，保持了自2008年以来的最高水平，符合市场预期。这一一致决定反映了在美国关税政策持续存在不确定性的情况下的谨慎态度，这可能会对全球经济增长构成风险。在加拿大举行的七国集团峰会期间举行的会谈未能取得突破后，东京和华盛顿同意延长贸易谈判。与此同时，作为放松多年超宽松货币政策的持续努力的一部分，日本央行重申了其计划，即到2020年3月，每季度减少4000亿日元的日本政府债券购买量，并从2026年4月开始每季度再减少2000亿日元。根据这种分阶段的方法，到2027年第一季度，日本央行的月度债券购买量预计将降至2万亿日元，表明其谨慎而稳定的正常化道路。

The Bank of Japan (BoJ) kept its key short-term interest rate unchanged at 0.5% during its June meeting, maintaining the highest level since 2008 and matching market expectations. The unanimous decision reflected caution amid ongoing uncertainty over U.S. tariff policies, which could pose risks to global economic growth. Tokyo and Washington agreed to extend trade negotiations after failing to reach a breakthrough during talks held on the sidelines of the G7 Summit in Canada. Meanwhile, as part of its ongoing efforts to unwind years of ultra-loose monetary policy, the BoJ reaffirmed its plan to reduce Japanese government bond (JGB) purchases by JPY 400 billion each quarter through March 202, with an additional JPY 200 billion reduction per quarter beginning in April 2026. Under this phased approach, BoJ’s monthly bond buying is expected to decrease to JPY 2 trillion by Q1 of 2027, indicating its cautious yet steady normalization path.