Tokyo's October CPI due 30 October: September core inflation reached 2.7%
Japan's Statistics Bureau publishes Tokyo's October consumer prices on 30 October, the day the Bank of Japan's two-day meeting ends. Tokyo's September core rate was 2.7%.
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Bank of Japan decides on 30 October with its rate at 1.25%, a new Outlook Report and Tokyo inflation at 2.7%
The Bank of Japan's two-day meeting ends on 30 October with the quarterly Outlook for Economic Activity and Prices. September's opinions showed a board focused on preventing an inflation overshoot, and a minority urging no haste.
Week ahead, 26–30 October 2026: the Fed, ECB, Bank of Japan, Bank of Canada and RBNZ all decide, and US GDP lands
Five central banks decide in three days, from the Fed and the Bank of Canada on Wednesday to the ECB on Thursday and the Bank of Japan on Friday. US third-quarter GDP and September PCE inflation come on Thursday, and Europe's clocks go back on Sunday.
Japan's national CPI rose 2.1% in September; core-core at 2.4%
Update: Japan's national CPI rose 2.1% on the year in September. Core inflation, excluding fresh food, was 2.1%, and core-core, excluding fresh food and energy, was 2.4%.
Week ahead, 19–23 October 2026: Canada and UK inflation, flash PMIs and Japan's national CPI
Update: Canada's CPI rose to 3.1% in September, UK unemployment was 4.7% and UK CPI 3.5%, the flash PMIs put the UK composite at 53.1 and the euro area at 51.9, and Japan's national CPI rose 2.1%.
Week ahead, 12–16 October 2026: US CPI, the Beige Book, UK GDP, Australian jobs and the IMF meetings
Update: US CPI rose 3.7% on the year in September, Australia lost 39,300 jobs, UK GDP grew 0.1% in August, US retail sales rose 0.8%, and euro area inflation was confirmed at 3.8%.
Japan's industrial output falls 1.7% in August, led by cars and machinery, but makers expect a rebound
METI's preliminary index fell to 102.6 and shipments dropped 2.5%. Its survey of manufacturers points to output rising 3.2% in September and 3.1% in October.
The euro falls to $1.1204 on ECB reference rates, its lowest since May 2025, after four straight weekly declines
The European Central Bank's daily reference rate has fallen 3.6% since 4 September and 6.4% from its January high. Sterling, the Australian dollar and the yen also lost ground to the dollar.
Tokyo core inflation jumps to 2.7% in September, above the Bank of Japan's 2% target
Consumer prices excluding fresh food in Tokyo's 23 wards rose 2.7% from 1.8% in August, and the measure excluding fresh food and energy reached 3.0%. The Statistics Bureau credits water and childcare charges and lodging prices.
Bank of Japan board turns to preventing an inflation overshoot, its September opinions show
The Summary of Opinions from the 17–18 September meeting says one member called for a shift in policy phase and another said the Bank should accelerate hikes if prices overshoot. Another said there was no need for haste. The Tankan showed large manufacturers' sentiment at +24.
Week ahead, 21–25 September 2026: flash PMIs, the SNB, Norges Bank, the Riksbank and Australian jobs
Update: the week's releases are out, from the flash PMIs to the SNB, Norges Bank and Riksbank decisions, Australian jobs and Canadian retail sales, and US PCE inflation and GDP followed on 30 September.
Japan's core inflation slows to 1.7% in August, on the day the Bank of Japan raised interest rates
Consumer prices excluding fresh food rose 1.7% from a year earlier, down from 1.8% in July, while inflation excluding both fresh food and energy held at 1.9%. Falling energy prices explain the gap between the two.
BIS Quarterly Review: government bond yields climbed, term premiums rose and the dollar gave back its July gains
The Bank for International Settlements says 10-year yields rose by 24 to 34 basis points in major economies over its review period, and that the US Treasury's buyback plan of 19 August lowered yields and the dollar only briefly.
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The central bank week that changed the market: 15–18 September 2026
The Fed hiked, the BoE held on a split vote and the BoJ raised its rate to 1.25% — three decisions in four days that reset the rate map. Here is the week's full picture and what it changed for every currency.
The Bank of Japan's dilemma: rates, the yen and intervention
The BoJ raised its rate to 1.25% on 18 September while the Fed sits near 4%, and Japan has already intervened once this year — jointly with the US. Here is the three-sided dilemma and how it shapes the yen.
Bank of Japan raises its policy rate to 1.25% on a 7–2 vote, three months after its last increase
The Policy Board voted 7–2 on 18 September to lift the overnight call rate target from 1.00% to 1.25%, saying underlying inflation is approaching its 2% goal. Two members dissented.
Japan's trade deficit widens to ¥1.1 trillion in August as imports jump 28%
Exports rose 19.3% from a year earlier and imports 28.0%, according to the Ministry of Finance's provisional figures. Imports from the United States climbed 55.2%.
Bank of Japan meets on 17–18 September after holding at 1% in July
Update: on 18 September the Bank of Japan raised its policy rate from 1.00% to 1.25% on a 7–2 vote. This preview sets out what traders were watching beforehand.
Japan and the US confirm a rare joint intervention to support the yen
Japan's Ministry of Finance bought yen on 31 July in coordination with the US Treasury, Finance Minister Katayama Satsuki said on 3 August, adding that Japan stands ready to act again.
