As widely expected, the Bank of Japan left its policy rate unchanged at 1.25% in
October, keeping the door open to further increases in coming months. The BOJ
was the last of three major central banks this week to pause; the Federal
Reserve and ECB also held after the three jointly raised rates last month.
Consecutive BOJ hikes are unprecedented this century and could stoke market
volatility; Japan's benchmark rate is at a 31-year high but remains below other
G7 peers. Investors are focused on Governor Ueda's press conference at about
15:30 JST for signals on a possible December hike and the likely terminal level
of the tightening cycle.
