RBA Governor Bullock testimony key as rate hike odds hit 70-75%
RBA Governor Michele Bullock appears before parliament as markets assign a 70-75% probability to a rate hike at the September meeting.
27 min ago16 min read
Asia's Friday Economic & Event Calendar: BoJ and RBA in Focus
Asia's Friday calendar features Japan's August CPI and a BoJ rate decision, plus RBA Governor Bullock speaking. A hike is widely expected.
17/09/2026 20:318 min read
Today's Asian trading session is packed with major events. I will have dedicated previews for each of these later; these are just quick highlights for the moment.
August inflation figures from Japan are due. We have already seen the preliminary CPI data for the Tokyo region:
- Tokyo's core consumer price index rose 1.8% year-on-year in August, outpacing the 1.7% consensus forecast and drawing closer to the BOJ's 2% objective, while the closely watched core-core gauge touched 2.0%, bolstering the argument for a rate increase in September.
I wouldn't overstate the significance of this Japanese data, which arrives just hours before the Bank of Japan's policy statement—it's not as though the Board is waiting on these numbers. Based on everything we have gathered over the past week, the rate hike for today is already a done deal, simply awaiting formal endorsement:
- Preview: Goldman Sachs sees yen and Nikkei risk building on faster BoJ rate path
- BOJ hike next week is a given, the real question is pace and terminal rate
- A BOJ rate hike is coming, but can the Japanese yen hold its gains?
As a side note, you may notice in the calendar above that the BoJ decision is scheduled for 0300 GMT (2300 US Eastern time). This is only an estimate. Unlike other developed-market central banks, the Bank of Japan does not fix the exact time of its Statement release. It is reasonable to expect it within the 0230-0330 GMT window.
You will also see that BoJ Governor Ueda is set to hold a press conference a few hours after the Statement. That one is timetabled for 0630 GMT / 0230 US Eastern time.
Beyond Japan, the other high-impact event is a speech from Reserve Bank of Australia Governor Bullock.
That takes place at 9.30am local time, which is 2330 GMT / 1930 US Eastern time. The RBA is in the middle of a tightening cycle, having lifted its cash rate by 25bp at each of the first three meetings of 2026 (3 February, 17 March, 5 May) and then holding steady twice (6 June, 11 August). With inflation remaining stubborn, another hike at the next meeting (28–29 September) is priced at roughly 70-75%.
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