Yuxuan Tang, a global market strategist at J.P. Morgan Private Bank, said that now all eyes are on Bank of Japan Governor Kazuo Ueda's press conference. We'll be watching closely what he says about real interest rates and what this means for future policy paths. His outlook on the upcoming “Chundou” wage negotiations is also critical. The outcome of the Spring Battle will largely determine the timing of the next rate hike. One of the key reasons the Bank of Japan is cautious about policy normalization is that real wage growth is still negative.

Yuxuan Tang, a global market strategist at J.P. Morgan Private Bank, said that now all eyes are on Bank of Japan Governor Kazuo Ueda's press conference. We'll be watching closely what he says about real interest rates and what this means for future policy paths. His outlook on the upcoming “Chundou” wage negotiations is also critical. The outcome of the Spring Battle will largely determine the timing of the next rate hike. One of the key reasons the Bank of Japan is cautious about policy normalization is that real wage growth is still negative.