The Bank of Japan raised its policy rate to about 1.25% on Sept. 18 in a 7-2 vote, with the new target taking effect on Sept. 24. This decision did not trigger a visible yen-carry unwind: the yen weakened 1.2% against the dollar, which climbed to 157.84 yen. Bitcoin rose orderly from $76,961 to $77,383 within 36 minutes of the announcement, reaching as high as $81,000 intraday, a 5.67% gain over 24 hours. The BOJ said financial conditions would remain accommodative while retaining a conditional path toward further rate increases based on its economic and inflation outlook. The bank’s next signals on Japan’s economy will be key to assessing risks of a broader yen-carry unwind on markets.
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