Moody's Analyst Stefan Angrick stated that although the Bank of Japan did not take action earlier, it seems determined to further tighten policies. The latest economic data limits the Bank of Japan's options: the strength of Japan's economy is insufficient for the central bank to make significant interest rate hikes, but the current situation may lead to further depreciation of the yen and increased inflation. Moody's analysis anticipates that the Bank of Japan will have two more interest rate hikes in 2025. If wages and economic growth exceed expectations, the yen weakens again, or overseas central banks raise interest rates, the Bank of Japan may increase its tightening efforts.