PANews reported on August 7 that according to Jinshi, Bank of Japan Deputy Governor Shinichi Uchida said that the Bank of Japan would not raise its policy interest rate if financial markets were unstable. This was Uchida's first public speech after the historic collapse of the Japanese stock market. He said that the recent market trends were "extremely unstable" and the central bank needed to maintain an accommodative monetary policy for the time being. Uchida pointed out that the authorities need to monitor any potential impact of market trends on prices and the overall economy, and the trend of Japanese interest rates may change based on this impact. After Uchida made these remarks, the yen's decline quickly widened to 2%, and the Nikkei 225 Index and the Topix Index rebounded by more than 3%.