According to CoinMeta, Joey Chew, the head of HSBC's Asian foreign exchange research, stated that as the yen continues to weaken gradually, the Bank of Japan (BOJ) has the opportunity to support the yen through hawkish interest rate hikes at its next meeting in September. The market expects the BOJ to raise interest rates by a total of 80 basis points over the next 12 months, bringing them to 1.8%. HSBC's economic research team predicts that the BOJ will raise rates twice more in September and in the first quarter of 2027, with the final interest rate reaching 1.5%. Joey Chew pointed out in the report that whether the yen can continue to recover depends on whether real interest rates become more attractive, whether fiscal concerns diminish, and whether Japanese residents shift from overseas assets to domestic assets.