Plenty of big events to come during the Asian timezone today. I’ll get previews posted of all of these separately, just a few brief notes for now.
Japanese inflation data for August. We have already seen Augusy CPI data for the Tokyo area:
- Tokyo core CPI rose 1.8% y/y in August, beating forecasts of 1.7% and nearing the BOJ’s 2% target, with the closely watched core-core measure hitting 2.0%, adding to the case for a September rate hike.
I don’t want to overplay the importance of this data from Japan due only hours before the Bank of Japan statement, its not as if the Board is hanging on these numbers. From all we’ve divined in the past week or so, the rate hike today is agreed to already, just awaiting a rubber stamp of approval:
- Preview: Goldman Sachs sees yen and Nikkei risk building on faster BoJ rate path
- BOJ hike next week is a given, the real question is pace and terminal rate
- A BOJ rate hike is coming, but can the Japanese yen hold its gains?
As an aside, you’ll note the time of the BoJ decision is set at 0300 GMT (2300 US Eastern time) in the calendar screenshot above. This just an approximation. Unlike other developed market central banks the Bank of Japan does not firmly set the time of the Statement release. Its reasonable to expect it in the 0230-0330 GMT time window.
You will also note the Bank of Japan Governor Ueda will hold a news conference a few hours after the Statement. This is at a set time, 0630 GMT / 0230 US Eastern time.
Apart from Japan, the other high impact event is Reserve Bank of Australia Governor Bullock speaking.
9.30am local time for this is 2330 GMT / 1930 US Eastern time. The RBA is in the midst of a rate hike cycle, having raised its casg rate by 25bp at the first three meetings of 2026 (3 February, 17 March, 5 May) and holding twice since (6 June, 11 August). With sticky inflation a further rate hike at its next meeting (28–29 September) priced at around 70-75%.
This article was written by Eamonn Sheridan at investinglive.com.