The Bank of Japan needs to accelerate interest rate hikes to support the appreciation of the yen.

According to ChainCatcher, as reported by Golden Ten Data, T. Rowe Price portfolio manager Vincent Chung stated that the Bank of Japan is expected to keep interest rates unchanged on Friday, but may signal a quicker pace of rate hikes. He pointed out that if the Bank of Japan accelerates its policy normalization process, there could be two more rate hikes this year. For the yen to achieve a clear and sustained appreciation, a faster tightening of monetary policy, falling energy prices, and more coordinated exchange rate intervention measures are needed together.