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Bank of Japan minutes of the September meeting. The meeting created some shock waves with two dissenters seeking an immediate rate rise. The minutes show cautious path toward further rate hikes amid trade uncertainty

The Bank of Japan’s September meeting minutes revealed policymakers broadly agreed that real interest rates remain very low, and the central bank will likely continue gradually raising rates if its projections for growth and inflation hold.

Members highlighted “high uncertainty” surrounding global trade policy, with several officials emphasising the need to scrutinise how trade developments impact Japan’s economy and prices before adjusting policy further.

A few participants argued it was appropriate to maintain current monetary settings in the near term to observe the effects of recent U.S. tariffs and global economic headwinds. One member warned that Japan’s economy could stall temporarily due to U.S. trade measures, suggesting monetary policy should continue to support activity for now.

Another member said that while the conditions for another rate hike are gradually falling into place, the BOJ should avoid surprising markets with a premature move, and it “would not be too late” to wait for more hard data before normalisation proceeds.

Additional minutes showed that one policymaker suggested it might be a good time to resume rate hikes, noting that more than half a year has passed since the last increase, though it would be prudent to wait for greater clarity on the extent of the U.S. economic slowdown before acting.

Another member emphasised the importance of being able to predict with some certainty—based on corporate profits and preliminary wage-negotiation data—that the wage-hike trend of recent years will not be disrupted, underscoring the need for confidence in sustained income growth before tightening further.

The minutes underscore the BOJ’s data-dependent and cautious approach as it balances emerging inflation persistence against risks from global trade disruptions and policy tightening abroad.

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Full text:

• Minutes of the
  Monetary Policy Meeting
  on September 18 and 19, 2025
  

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From the day:

• investingLive European markets wrap: Yen fades BOJ gains; dollar firms, stocks tentative

We had the “Summary of Opinions” from this back on September 30.

This article was written by Eamonn Sheridan at investinglive.com.

President Trump has renominated Jared Isaacman to run NASA after pulling his prior nomination in May.

US President Donald Trump said he met with senior representatives from Switzerland to discuss trade and other issues, describing the talks as productive and praising both sides “on a job well done.”

“The meeting was adjourned with the understanding that our Trade Representative, Jamieson Greer, will discuss the subjects further with Switzerland’s Leaders,”
Trump wrote on Truth Social.

The upbeat tone could mark progress in efforts to resolve a trade dispute that has weighed on ties since August, when the US imposed a 39% tariff on Swiss imports following a tense call between Trump and Swiss President Karin Keller-Sutter in late July.

Bern has sought to ease tensions by offering a package of investment pledges and deficit-reduction proposals, though Keller-Sutter warned last month that a deal this year remained uncertain.

“Everything depends on whether the U.S. president gives the green light or not,”
Keller-Sutter told the Tages-Anzeiger newspaper.

Neither the Swiss embassy nor the White House offered immediate comment following Tuesday’s meeting. The tariffs affect less than 10% of Swiss exports, but have hit machinery makers especially hard amid broader weakness in European manufacturing.

This article was written by Eamonn Sheridan at investinglive.com.

US President Donald Trump announced a cut to fentanyl-related tariffs on imports from China, lowering the rate from 20% to 10%, and the continued freeze of some of his reciprocal levies on Chinese goods, Bloomberg reported on late Tuesday.

The USD/JPY pair attracts some sellers to near 153.65 during the early Asian session on Wednesday. The US Dollar (USD) edges lower against the Japanese Yen (JPY) amid growing concerns over the ongoing US government shutdown.

US President Donald Trump has halved the tariff on Chinese imports linked to fentanyl production, lowering the rate from 20% to 10% in a move that fulfills a key component of his latest trade deal with Chinese President Xi Jinping.

Info via Bloomberg.

The reduction, formalised in an executive order issued Tuesday, takes effect November 10 and follows an agreement reached at the October summit in South Korea aimed at easing tensions between the world’s two largest economies.

“The PRC has committed to take significant measures to end the flow of fentanyl to the United States, including stopping the shipment of certain designated chemicals to North America and strictly controlling exports of certain other chemicals to all destinations in the world,”
Trump said in the order.

The administration first imposed the fentanyl-related tariff to pressure Beijing into curbing trafficking of the deadly opioid and its precursor chemicals. Trump said progress made by China on those commitments justified the rollback, though he warned that Washington will keep a close watch.

“Should the PRC fail to implement its commitments as described in section 1 of this order, I may modify this order as necessary,”
he said, adding that the State Department and Department of Homeland Security will continue to monitor compliance.

The tariff reduction is part of a one-year pact designed to stabilise trade relations after months of escalating tariffs and export curbs. While the deal represents a significant concession to China and a step toward calmer relations, it stops short of a long-term settlement, leaving scope for renewed friction during next year’s renegotiations or earlier disputes over enforcement.

This article was written by Eamonn Sheridan at investinglive.com.

Pinterest shares tanked on Tuesday after the company reported third-quarter financial results that missed on earnings per share and provided weak guidance.

A plane crashed near Louisville’s Muhammad Ali International Airport on Tuesday afternoon, triggering a large blaze and significant smoke plume visible in traffic cameras shortly before 5:30 p.m. US Eastern time.

The incident occurred in the vicinity of Fern Valley Road and Grade Lane, south of the airport, where multiple emergency agencies responded.

Injuries have been reported and the scene remains active with fire and debris.

While some social-media accounts suggested the aircraft may be operated by UPS Airlines, no official confirmation has been released.

More:

Airport is now closed to arriving and departing flights

• Crash of a McDonnell Douglas MD-11 being operated as a cargo plane by UPS Airlines
• Crash on take off
• massive fire is currently burning, having engulfed several nearby buildings

This article was written by Eamonn Sheridan at investinglive.com.

Super Micro has been a big beneficiary of the AI boom, but revenue and earnings in the latest quarter fell short of estimates.

The Australian dollar eased after the Reserve Bank of Australia’s latest policy statement struck a neutral tone, disappointing investors who had anticipated a more hawkish message.

According to TD Securities, the RBA’s balanced language “took some shine off the Aussie” as markets unwound modest long positions built ahead of the decision.

TD noted the U.S. dollar is staging a tactical bounce, with potential for further strength if the upcoming ADP employment report surprises to the upside. However, strategists at the bank continue to favour buying dips in AUD/USD near 0.6440, around the 200-day moving average, viewing the pullback as an opportunity rather than a trend shift.

TD retains its call for RBA rate cuts in May and August 2026, consistent with its view that unemployment will climb over 2026, giving policymakers scope to gradually ease monetary policy.

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Gotta say, I’m in dispute with TD here, I thought the statement and SOMP were on the hawkish side rather than neutral.

• RBA leaves its cash rate unchanged at 3.6%, as widely expected.

Later from the RBA Governor:

• RBA governor Bullock: We did not considering cutting rates
• RBA governor Bullock: We are not moved by outside commentary on policy

This article was written by Eamonn Sheridan at investinglive.com.