The BOJ decided to raise rates by 0.25%, but 2 Policy Board members were reported to have voted against the decision, and the yen weakened into the ¥158 range. Equity and cryptocurrency markets also moved against a backdrop of strong US PMI data and falling crude oil prices.
At its monetary policy meeting on the 18th, the BOJ decided, as widely expected, to raise rates by 0.25%, lifting the policy rate to around 1.25%. However, reports that 2 Policy Board members appointed under the Takaichi (高市) administration voted against the decision led to divided views on the pace of future rate hikes. The Nikkei 225 responded by closing at ¥65,018.95, up 1.38% from the previous day.
In the United States, the September flash PMI came in at 57.0 for manufacturing, 58.7 for services and 58.4 for the composite, the highest levels since July 2021, indicating economic resilience and persistent inflationary pressure. Meanwhile, the US 10-year Treasury yield rose to around 5.13%, while the 5-year yield also moved above 5%, pushing market interest rates higher.
In the crude oil market, WTI fell below $100, providing support for equity and cryptocurrency markets. The Nasdaq extended its record run for another day, while the SOX also rose sharply. Bitcoin staged a rapid recovery from the $75,000 range after the FOMC meeting to $84,000–$86,500.
Among today’s key indicators, the Nikkei 225 rebounded for the first time in 3 sessions and showed signs of targeting the ¥66,000 range, while the S&P 500 may remain on a downward trend as PMI developments and rising interest rates weigh on the market. In the cryptocurrency market, BTC again appeared to be entering an uptrend, with spillover effects expected depending on the performance of other assets.