The interest rate cut of 25 basis points in the early morning is in line with expectations, while the dot plot shows that there is only one 25 basis point cut in 2026. To increase the number of rate cuts in the future, we can only wait for the subsequent macro data to be released before deciding to increase.

Additionally, on the 19th of this month, Japan will most likely raise interest rates. During the institutional settlement phase around Christmas this year, it will be very difficult to navigate.