Mitsubishi UFJ analyst Derek Halpenny said if the BOJ at Friday’s policy decision fails to signal a rate rise matching market expectations, the yen could weaken. Markets are pricing a 25bp move and roughly 90bps of cumulative tightening over the next 12 months. Halpenny flagged the risk UEDA’s remarks may fall short of those expectations, noting UEDA has tended to be cautious amid rising global uncertainty.

2026-09-17

Mitsubishi UFJ analyst Derek Halpenny said if the BOJ at Friday’s policy decision fails to signal a rate rise matching market expectations, the yen could weaken. Markets are pricing a 25bp move and roughly 90bps of cumulative tightening over the next 12 months. Halpenny flagged the risk UEDA’s remarks may fall short of those expectations, noting UEDA has tended to be cautious amid rising global uncertainty.