SMBC Nikko economist Yoshimasa Maruyama said the Bank of Japan’s September meeting minutes did not contain sufficiently hawkish views to support expectations of consecutive rate hikes. The minutes flagged financial conditions—noting corporate behaviour and asset prices—as a key determinant of future policy, implying the BOJ could avoid relying solely on the policy rate when deciding further tightening. OIS price roughly a 20% chance of an October hike and an 82% chance of a December move.(金十)