BoJ is reportedly to lean back against back-to-back hikes in October, Bloomberg reports citing sources;

Source-based pre-meeting guidance of this kind is a familiar instrument in the BoJ's toolkit; the bank has historically used press channels to shape pricing ahead of decisions, and markets have tended to treat such leaks as reliable direction, though the timing nuance matters more than the signal itself. The operative distinction is between skipping a meeting and abandoning the hiking cycle: pushing back against consecutive moves while leaving December in play re-prices the front end modestly rather than flattening the curve, a pattern seen in past episodes where the bank has preferred a deliberate pace between tightenings. The stated rationale, financial conditions in line with expectations alongside still-rising underlying prices, is the standard formulation the bank has used when it wants optionality rather than a hard commitment either way. The usual transmission runs through the front of the JGB curve and the yen via rate differentials, with the carry complex and funding-linked positions in gold and metals typically the secondary expression when BoJ expectations shift. The follow-ons worth noting are whether officials confirm or soften the report on the record, and how sensitive the December pricing becomes to intervening wage and price data, since that is where the story migrates next.