Data from Jin10 on March 18: JPMorgan states that the Central Bank of Japan will announce its decision on the interest rate for March this week, and it can be almost certain that the political interest rate will remain at 0.50%. An important condition that may be disclosed at the meeting is the further conditions for rate hikes, which will be key in determining the timing of the next hike. Considering the recent increase in information from Japanese officials pro risks of inflation, we believe this may indicate the possibility of a rate hike at the next meeting in May, (that is, in May), although our base scenario predicts a rate hike in June. If the Central Bank of Japan maintains its policy unchanged, the reaction of the Japanese yen exchange rate may be limited.