The Bank of Japan (BOJ) released the minutes from its July Monetary Policy Meeting, revealing a reduction in monthly Japanese government bond (JGB) purchases by 200 billion yen to approximately 2.5 trillion yen in July, consistent with the decision made at the June meeting. During the meeting, the uncollateralized overnight call rate remained between 0.976% and 0.981%.

The minutes noted an increase in the 10-year JGB yield, primarily influenced by uncertainty surrounding the situation in the Middle East and speculation regarding future fiscal and monetary policies. During the July meeting, the Japanese yen depreciated against the US dollar but remained largely stable against the euro. Overseas economies showed overall moderate growth, but some regions exhibited weakness due to the Middle East situation, and overseas economies are expected to face downward pressure in the short term.