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BOJ

A screen displays Japanese and U.S. 10-year government bonds outside a securities firm in Tokyo on Jan. 21.
COMMENTARY / Japan
Feb 4, 2026
Japan’s bond market has a warning for America
Reality, however, has a way of catching up with theory eventually, and now it has for Japan, whose long-term bond yields are rising as the yen is depreciating.
The Bank of Japan's summary of opinions signals the possibility of Gov. Kazuo Ueda’s board raising the benchmark rate at a faster pace than the market consensus estimate.
BUSINESS
Feb 2, 2026
BOJ summary suggests emerging urgency around timely rate hikes
The summary signals the possibility of Gov. Kazuo Ueda’s board raising the benchmark rate at a faster pace than the market consensus estimate.
A board showing the yen's exchange rate with the U.S. dollar in Tokyo on Wednesday.
BUSINESS / Markets
Jan 30, 2026
Japan business leader calls on government to act more on yen rate
The comments came as the weak yen continues to hurt smaller firms by pushing up import costs and narrowing room for wage increases.
The U.S. Treasury Department's semiannual report cited "the prospects for more expansionary fiscal policies" under the administration of Japanese Prime Minister Sanae Takaichi as a reason for the yen's weakening.
BUSINESS / Economy
Jan 30, 2026
U.S. removes call for BOJ to raise interest rates
The U.S. Treasury Department removed its call for the Bank of Japan to raise interest rates in a semiannual report released Thursday.
The Bank of Japan's holdings of commercial papers could hit zero in the coming weeks,  underscoring Gov. Kazuo Ueda’s persistent march toward normalizing an extraordinary monetary easing program that lasted for more than a decade.
BUSINESS
Jan 29, 2026
BOJ set to see progress with balance sheet cuts with CPs at zero
The outstanding amount of commercial paper holdings on the central bank’s books has dropped to ¥29.9 billion as of Jan. 20, according to BOJ data last week.
U.S. Treasury Secretary Scott Bessent said the U.S. is “absolutely not” intervening in the dollar-yen market.
BUSINESS / Markets
Jan 29, 2026
Traders highlight risks for Japan going solo on yen intervention
Hopes were dented after Bessent said on Wednesday the U.S. is “absolutely not” intervening in the dollar-yen market.
A monitor at the foreign exchange trading company Gaitame.com in Tokyo displays the yen exchange rate against the U.S. dollar at the company's dealing room on Monday.
COMMENTARY / Japan
Jan 28, 2026
Japan is getting creative with its response to the weak yen
But if Tokyo is indeed coordinating policy — or messaging at least — with the U.S. to strengthen the currency, it marks a new and more creative era.
Finance Minister Satsuki Katayama speaks during the World Economic Forum annual meeting in Davos, Switzerland, on Tuesday.
BUSINESS / Markets
Jan 23, 2026
Finance chief Katayama watching yen rate ‘with sense of urgency’
Katayama was speaking after the yen gyrated sharply at the conclusion of a press briefing by Bank of Japan Gov. Kazuo Ueda.
The Bank of Japan headquarters in December. The central bank has opted to leave rates unchanged ahead of next month's election.
BUSINESS / Markets
Jan 23, 2026
Bank of Japan leaves rates unchanged ahead of February election
Rates were raised at the last policy board meeting to 0.75% from 0.5%.
Core inflation rose 3.1% for all of 2025, marking the fourth consecutive year in which consumer price index gains exceeded the Bank of Japan’s 2% inflation target.
BUSINESS / Economy
Jan 23, 2026
Japan’s inflation slows on subsidy effect ahead of BOJ decision
Consumer prices excluding fresh food rose 2.4% in December from a year earlier, with the pace decelerating from 3% in November.
Bank of Japan Gov. Kazuo Ueda in December. Rate increases are expected later this year.
BUSINESS / Markets
Jan 21, 2026
Bank of Japan expected to keep rates steady ahead of February election
Policy rate is 0.75%, a 30-year high, after an increase in December.
A Bank of Japan survey released Monday showed consumer sentiment rose for a second straight quarter, while views on living conditions worsened amid higher prices.
BUSINESS / Economy
Jan 20, 2026
Consumer sentiment in Japan improves for two straight quarters
The results apparently suggest that an increasing number of people think the overall economy is getting better but higher prices are weighing on livelihood.
Citigroup predicts the Bank of Japan will potentially raise interest rates three times this year.
BUSINESS / Economy
Jan 20, 2026
Citigroup sees risk of three BOJ rate hikes in 2026 on weak yen
The Bank of Japan will potentially raise interest rates three times this year to double the current level if the yen’s weakness persists.
A traffic sign in front of the Bank of Japan headquarters in Tokyo last month
BUSINESS / Markets
Jan 17, 2026
Yen watchers face double whammy of BOJ and election uncertainty
Yen traders are on edge for the risk of renewed volatility in the currency as uncertainty over the nation’s snap election grows with a Bank of Japan meeting approaching next week.
The most popular timing for the next hike is July, by a wide margin, with 48% of economists picking that month, according to the Bloomberg’s survey of 52 economists.
BUSINESS / Economy
Jan 16, 2026
BOJ watchers see next rate hike by July with yen as the X factor
All the respondents to a survey predicted policymakers will keep the benchmark rate unchanged at the next BOJ gathering this month, with the most popular timing being July.
The Bank of Japan risks weakening its independence by treating silence and limited transparency as protection rather than accountability.
COMMENTARY / Japan
Jan 15, 2026
Silence won’t protect the Bank of Japan’s independence
Why then does silence persist? Because in today’s institutional environment, speaking carries visible political risk, while silence carries little immediate cost.
U.S. Federal Reserve Chair Jerome Powell. The Bank of Japan's decision not to sign a statement expressing solidarity with Powell was in line with its long-held ‌practice of withholding comment on controversial topics, analysts say.
BUSINESS / Economy / ANALYSIS
Jan 15, 2026
BOJ puts self-defense ahead of solidarity with Fed’s Powell
The BOJ’s decision not to sign the statement was in line with its long-held ‌practice of withholding comment on controversial topics, analysts say.
A narrowing of the yield premium of U.K. debt over Japanese government bonds has led to the appeal of gilts fading.
BUSINESS / Markets
Jan 13, 2026
Japanese funds sell most U.K. bonds since 2011 amid fiscal concern
Higher bond yields in Japan also sapped demand for gilts.
The Bank of Japan's headquarters in Tokyo
BUSINESS / Economy
Jan 9, 2026
BOJ indicates it’s eyeing more rate hikes with regional report
Most BOJ watchers expect the pace of rate hikes to be once in every six months or so.
Outlays by households adjusted for inflation gained 2.9% in November from a year earlier, with the advance driven by outlays on cars and communications, according to the internal affairs ministry.
BUSINESS / Economy
Jan 9, 2026
Japan’s household outlays rose ahead of Takaichi’s stimulus plan
Outlays by households adjusted for inflation gained 2.9% from a year earlier, with the advance driven by outlays on cars and communications, the internal affairs ministry reported.

Longform

The Terasaka Rice Terraces are seen with Mount Buko in the background.
What Yokoze can teach Japan about rural revival