UBS says lack of action from Fed could give BOJ room to ease further

Live squawk reporting a client note from the Swiss banking group ( and one of my former employers!)

• BoJ may be able to take additional QQE measures more easily now that Fed has showed a dovish stance that expressed concern over financial markets and China's economy
• If Fed had raised rate, yen would have weakened, possibly making it harder for BOJ to ease policy further, if market turmoil together with downward pressure on stocks and USD/JPY emerge in Oct., BOJ could easily take additional QQE; macro-economic data due out in Oct. are also important
• Sees 50% probability of more BOJ easing in Q4; main scenario is for 30 Oct meeting although 7 Oct or 19 Nov meeting is also possible

Yep, now the dust is settling after the Fed's inaction we'll be getting lots of calls on other central banks

And yes this lack of hike from the FOMC does push back any hopes of a rate rise in the UK