The Japanese yen held steady around 147.5 per dollar on Thursday, trading sideways this week as investors weighed the Bank of Japan’s monetary policy stance. Last week, the BOJ kept interest rates unchanged but raised its inflation forecast while warning of mounting downside risks from global trade tensions. Minutes from the June policy meeting revealed that officials remain open to further tightening, particularly if external risks ease. Separately, a Ministry of Finance official emphasized the need for policy flexibility, especially in bond purchase operations to maintain market stability. On the data front, real wages in Japan declined for the sixth consecutive month in June, with inflation continuing to outpace earnings growth, complicating prospects for additional policy tightening.