According to Jinshi Data on August 11, at the beginning of this week, the Bank of Japan raised its policy interest rate and the US economic data was lower than expected, which led to strong fluctuations in the Japanese securities market and foreign exchange market. Bank of Japan Governor Kazuo Ueda said that the increase in policy interest rates will not have a big negative impact on the economy. However, Japanese economists pointed out that the market still experienced shocks and fluctuations. In the future, the Bank of Japan may continue to maintain the pace of interest rate hikes. Hideo Kumano, chief economist of the Economic Research Department of Dai-ichi Life Research Institute, believes that although the interest rate increase of the Bank of Japan is small, it has triggered a chain reaction of appreciation of the yen and decline in the stock market. Despite this, the Bank of Japan will not stop the process of interest rate normalization.