The Bank of Japan's board members are dropping hints that could reshape the market outlook. During their recent policy meeting—where they bumped up the benchmark rate—several governors flagged that real interest rates in the country are sitting well below normal levels. What does that mean? More rate increases are probably coming down the line.

This is significant stuff for traders watching global monetary conditions. When central banks keep pushing rates higher, especially from a low starting point, it typically signals they're serious about tightening policy. The BoJ's messaging here suggests they're not done yet, and markets will be watching how quickly these moves unfold.