BoJ just raised rates to ~1.25% (from 1.0%) in a 7-2 vote, effective Sep 24.
What matters for risk:
• They still call conditions "accommodative"
• Flagging upside CPI risks: Middle East tensions, AI demand, FX volatility
• This is NOT one-and-done — normalization path is still open
Crypto held the bid post-print:
$BTC ~$81.3k
$ETH ~$2.64k
Macro backdrop matters. Liquidity isn't tightening yet, but the door's open for more hikes. Watch global liquidity flows closely.
What matters for risk:
• They still call conditions "accommodative"
• Flagging upside CPI risks: Middle East tensions, AI demand, FX volatility
• This is NOT one-and-done — normalization path is still open
Crypto held the bid post-print:
$BTC ~$81.3k
$ETH ~$2.64k
Macro backdrop matters. Liquidity isn't tightening yet, but the door's open for more hikes. Watch global liquidity flows closely.
