BOJ

BoJ split deepens: Hawks eye hikes, doves warn on risks

• BoJ September summary shows pressure to normalise but risks keep doves wary

BoJ Summary (September meeting) is barely shifting the yen

• The meeting created some shock waves with two dissenters seeking an immediate rate rise.

Saturday is the (time) line in the sand for the yen - Koizumi PM win could lift JPY

• MUFG says a Koizumi win in Japan’s LDP leadership race could lift the yen, with reduced political uncertainty paving the way for a BOJ rate hike in October. Rival Sanae Takaichi, aligned with “Abenomics,” favours looser policy.

Economic calendar in Asia Tuesday, September 30, 2025 - RBA, BOJ, China PMIs

• It's a packed agenda of events during the Asian time zone today

BOJ's Noguchi: Monetary policy entering a phase where careful assessment is needed

• Remarks by BOJ policymaker, Asahi Noguchi

Heads up for BOJ Board Member Asahi Noguchi speaking Monday, September 29, 2025

• Noguchi will be speaking from 0530 GMT

Japan's govt revises July real wages to 0.2% decline (vs preliminary 0.5% increase)

• The Bank of Japan is leaning on rising wages as a reason to hike rates. Whoops.

Deutsche Bank: Japan’s growth, weak yen point to BOJ hike in October

• Deutsche Bank sees Japan’s 2025 growth at 1.2%, noting a weak yen has helped exporters weather tariffs. With core-core CPI above 3%, it expects the BOJ to resume hikes in October, though political outcomes could shape the timing.

Another ex-BOJ board member says the Bank could hike next month

• “The BOJ may act in October,” Makoto Sakurai, a former member of the nine-person board said. Adachi said similar yesterday.

BOJ July minutes: Expects to keep hiking if inflation, economy, move with estimates

• Bit of a nothingburger these, from a nothingburger meeting

Bank of Japan Services PPI (August) +2.7% y/y (expected +2.9%, prior +2.9%)

Economic calendar in Asia Thursday, September 25, 2025 - Bank of Japan minutes

• The Bank of Japan will release the minutes of its July meeting today

Ex-BoJ member Adachi: October rate hike cannot be ruled out

• Comments from the former BoJ board member Adachi

Japan PM contender Hayashi says weak yen has contributed to inflation

• Weak yen, coupled with rising oil costs from Ukraine war, has caused cost-push inflation

BOJ governor Ueda declines to comment on being "behind the curve"

• This is in response to Bessent's finger pointing that the BOJ is "behind the curve" on monetary policy action