With the 10-year JGB futures hovering near key resistance levels, even minor movements carry significant weight for bond markets. The BOJ’s reluctance to commit to a timeline for rate hikes underscores its focus on data-driven decisions. As Fujiki emphasized, the central bank’s next steps will hinge on real-world outcomes from its prior policies, making market reactions a critical indicator for traders.

For now, the BOJ’s two-day meeting sets the stage for a prolonged debate on balancing inflation control with economic growth.