cnbc_topnews

BOJ holds rates at 1%, warns of core inflation exceeding 2% target

📰 source: cnbc_topnews · 💼 business

boj held rates at 1% on friday, an 8-1 decision with board member hajime takata proposing a hike to 1.25%. the bank warned core inflation could run "clearly above" 2% from the second half of its 2026 fiscal year, citing wage pass-through, higher crude oil prices, and yen depreciation.

the warning comes as tokyo reportedly intervened thursday night, with u.s. authorities executing a "rate check," a precursor to intervention. the yen rallied from 163 to as high as 157.96. state street's masahiko loo said the key signal is that the finance ministry remains uncomfortable with excessive yen weakness, with the line in the sand likely a zone around 162-165.

analysts see september or october hikes as possible rather than the usual six-month interval, and attention turns to governor kazuo ueda's press conference for signals on faster tightening. bloomberg reported boj officials are open to moving faster than the current market view of one hike every six months. core inflation was 1.6% in july, still below the 2% target.

why it matters: boj signals faster tightening as yen intervention zone set, raising stakes for japanese bond and equity investors.

source: cnbc_topnews
sentiment: -0.20 · impact: 0.70

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Surprise fall in US jobs last month as slow summer continues

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China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects