[Nomura: Focus on Whether the Bank of Japan's Rate Hike Targets Will Shift] Jin10 Data, June 16 – Nomura Research Institute stated in a research report that the Bank of Japan is currently facing a complex environment intertwined with multiple factors, making policy decisions particularly challenging. This also highlights the importance of central bank communication. In the future, the Bank of Japan needs to more clearly explain how rate hikes will impact the economy compared to historical experiences and what effects are expected. At the same time, the Bank of Japan must explicitly articulate the objectives of tightening policy. So far, the Bank of Japan has described policy tightening as an "adjustment to the degree of monetary easing." If the Bank of Japan incorporates "mitigating the risk of potential inflationary pressures" and "curbing inflation expectations" into its rate hike targets, it will influence the pace of future rate hikes and the Bank of Japan's communication approach. Whether this rate hike will enhance market and public confidence in the Bank of Japan will largely depend on the performance of the Vice Governor's press conference following the conclusion of the policy meeting.