Last week's trilateral talks between Japan's finance minister and the United States and South Korea may have laid the groundwork for the BOJ to take appropriate action in the foreign exchange market. The continued depreciation of the yen has promoted exports, but it has also pushed up the price of domestic imported goods, thus raising the cost of living for families. This has focused the market's attention on the impact of the yen's depreciation on the timing of the Bank of Japan's next interest rate hike. However, the governor of the Bank of Japan said that if inflation accelerates towards the 2% target as expected, the central bank will raise interest rates again. Therefore, the possibility of raising interest rates is expected to continue to heat up in the future, and there is the possibility of another intervention in the foreign exchange market at any time. The last time the Bank of Japan intervened in the currency market was in 2022, the first time in September and the second time in October, with the purpose of supporting the yen. The Bank of Japan's two-day policy meeting ends on Friday.