JGB Futures Rally Ahead of BOJ Decision, Defying Hawkish Signals

JGB futures rose in Tokyo on July 30, 2026, pricing in a BOJ pause — contradicting a June 8 WSJ report that the BOJ was leaning toward a hike. The two-day meeting ends July 31. A hike would unwind the rally; a hold sidelines board member Tamura, who proposed a 1.0% rate in January.