Institution: Bank of Japan's inflation risk signal is stronger than the Federal Reserve's, but does not indicate accelerated rate hikes.

⑴ Omin Asset Management stated that the Bank of Japan's inflation risk signals appear to be much stronger than those from the Federal Reserve. ⑵ Although both explicitly mention geopolitical risks, the Bank of Japan specifically pointed out that rising crude oil prices are exerting upward pressure on the CPI. ⑶ The Bank of Japan also emphasized that inflation expectations are heating up. ⑷ It believes that the Bank of Japan's tightening policy stance is due to various input factors, rather than a shift in guidance.