Opinion
2 Oct 2026
BoJ’s pace debate turns Japan’s domestic bond story from politics into relative value.
The Bank of Japan’s Summary of Opinions from the September meeting, released around 1 October, shows board members debating a faster path of normalisation after the policy rate reached 1.25 per cent, the highest since 1995. For Japanese asset owners the practical question is no longer whether domestic bonds exist as an option. It is whether rising JGB yields and a more active BoJ make home-market fixed income competitive enough to matter inside existing allocation bands.
