Sumitomo Mitsui: Although the Bank of Japan's vote result was unexpected, it did not affect the market; the central bank is unlikely to raise interest rates substantially in the future.

```htmlGolden Ten Data reported on June 16 that HIROFUMI SUZUKI, Chief Foreign Exchange Strategist at Sumitomo Mitsui Banking Corporation, said that although there was one dissenting vote in the Bank of Japan’s latest interest rate decision—which was somewhat unexpected—this did not significantly impact the foreign exchange market because the vote came from policy board member Toyoichiro Asada, who is known for his long-standing dovish stance. In fact, previous attention focused on whether there would be a proposal for a 50 basis point rate hike, but no such suggestion was made by officials. Regarding the future path of rate hikes, this situation is positive for risk asset prices, as it suggests that a sharp rate hike might be avoided. The Bank of Japan is likely to continue increasing interest rates gradually, about once every six months to a year. If inflation accelerates or the yen weakens further, the timing of the next rate hike could be brought forward.```