<Anchor>
This time, we will go to Tokyo, Japan.
Correspondent Park Sang-jin, I can see that the yen is relatively cheap these days. What are your expectations for Japanese economic policy?
<Reporter>
Yes, the Bank of Japan has been buying government bonds on a large scale to contain the rise in interest rates.
As a result, the Bank of Japan's government bond holdings currently exceed 50%.
As the value of the yen has fallen to the 150 yen range, raising inflationary pressure, there is a prospect that Japan will have no choice but to join the global interest rate hike.
Earlier, in December of last year, the Bank of Japan also expanded the volatility of the 10-year government bond yield from 0.25% to 0.5%.
There are also observations that if Bank of Japan Governor Kuroda, who has led quantitative easing, is replaced in April, he will raise interest rates and reduce government bond purchases.
While Japan proposed an economic growth rate of 1.5%, 0.2%p lower than last year, defense spending increased by 26% to 66 trillion won, the highest ever.
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At a summit meeting with President Biden on the 13th, Prime Minister Kishida plans to explain the revision of Japan's national security strategy, which includes the so-called 'possession of counterattack capabilities'. Cooperation with South Korea is also very important in order to respond to North Korea's provocations in sight.
(Video coverage: Han Cheol-min · Moon Hyun-jin, video editing: Cho Moo-hwan)