日銀：慎重運転、追い込まれたらギアチェンジ

Research evidence excerpt

日銀：慎重運転、追い込まれたらギアチェンジ

rch is distributed in the EEA by J.P. Morgan SE (˘JPM SE˙), which is

authorised as a credit institution by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and jointly

supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB). JPM SE is a company

headquartered in Frankfurt with registered address at TaunusTurm, Taunustor 1, Frankfurt am Main, 60310, Germany. The material has been

distributed in the EEA to persons regarded as professional investors (or equivalent) pursuant to Art. 4 para. 1 no. 10 and Annex II of MiFID II and its

respective implementation in their home jurisdictions (˘EEA professional investors˙). This material must not be acted on or relied on by persons who

are not EEA professional investors. Any investment or investment activity to which this material relates is only available to EEA relevant persons and

will be engaged in only with EEA relevant persons.

Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Authority and the

Securities and Futures Commission in Hong Kong, and J.P. Morgan Broking (Hong Kong) Limited (CE number AAB027) is regulated by the

Securities and Futures Commission in Hong Kong. JP Morgan Chase Bank, N.A., Hong Kong Branch (CE Number AAL996) is regulated by the Hong

Kong Monetary Authority and the Securities and Futures Commission, is organized under the laws of the United States with limited liability. Where

the distribution of this material is a regulated activity in Hong Kong, the material is distributed in Hong Kong by or through J.P. Morgan Securities

(Asia Pacific) Limited and/or J.P. Morgan Broking (Hong Kong) Limited.

India: J.P.