The Bank of Japan has signaled a key concern: if import prices surge, consumers might tighten their wallets. This scenario matters because stagflation risks could reshape household behavior—fewer discretionary purchases, reduced spending power. For crypto markets, this kind of macroeconomic caution often triggers flight-to-safety moves, potentially affecting risk appetite and capital flows into digital assets. Keep an eye on BOJ statements; when central banks start warning about consumer pullbacks, it's usually a signal that economic headwinds are building.