# Who’s in control of Japanese monetary policy: Tokyo or Washington?

https://mins.news/en/item/62277

- South China Morning Post, 2026-09-17 08:30 UTC
- Economy
- Original: https://www.scmp.com/opinion/asia-opinion/article/3367804/whos-control-japanese-monetary-policy-tokyo-or-washington?utm_source=rss_feed

> Before the US Treasury unexpectedly intervened in Japan’s foreign-exchange market on July 31, markets put the odds of a Bank of Japan rate increase at its September 17-18 meeting below 30 percent. Those expectations have since surged to nearly 100 percent, accompanied by a dramatic shift in bond markets.

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