- BOJ held its benchmark rate at 1.25% in an 8-1 vote, signaling underlying inflation has reached its 2% target for the first time.
- CNBC reports this is the first time since the BOJ set the 2% target in 2013 that underlying inflation has met it.
- The policy signal opened the door to a December hike, and the yen broadly held its gains.
- BOJ accelerated the pace of ETF sales to about ¥860 billion ($5.5 billion) a year.
- Focus shifts to Governor Kazuo Ueda's press briefing around 3:30 p.m. local time.
Quotes
“The BOJ declared that its underlying inflation target of 2% has been met, the first time the central bank has done so since it set the target in 2013.”