On July 31, according to Jinshi, the Bank of Japan raised interest rates by 15 basis points, and the USD/JPY fell 110 points in the short term to 151.81. The Bank of Japan said that it would reduce its monthly bond purchases to 3 trillion yen from the first quarter of 2026. It plans to purchase 7.5 billion yen of Japanese government bonds twice a month from August to September, with a term of more than 25 years (previously, it purchased 5 billion to 10 billion yen twice a month).