Japan Interest Rate

Last Release

Oct 31, 2024

Actual

0.25

Units In

0.25

Frequency

Daily

Next Release

Dec 19, 2024

Time to Release

1 Months 16 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
9 Dec 1973	-0.1 Jan 2016	2.26 %	1972-2024	Bank of Japan

In Japan, interest rates are set by the Bank of Japan's Policy Board in its Monetary Policy Meetings. The BoJ's official interest rate is the discount rate. Monetary Policy Meetings produce a guideline for money market operations in inter-meeting periods and this guideline is written in terms of a target for the uncollateralized overnight call rate.

Latest Updates

The Bank of Japan (BoJ) unanimously maintained its key short-term interest rate at around 0.25% during its October meeting, keeping it at the highest level since 2008 and matching market estimates. Thursday's decision came amid shifting political lansdscape following Japan's election and ahead of the US presidential election. Meanwhile, Governor Kazuo Ueda has highlighted concerns about the increasingly uncertain global economic outlook, stating that the central bank has time to analyze risk factors after implementing rate hikes in March and July. The policy board remains committed to further rate increases if economic and price data align with its forecasts. In a quarterly outlook, the BoJ held its forecast that core inflation to reach 2.5% in FY 2024, with inflation expected to be around 1.9% for both FY 2025 and FY 2026. Regarding the GDP, the central bank retained its 2024 growth forecast at 0.6%. Additionally, it forecasts growth of 1.1% for FY 2025 and 1.0% for FY 2026.