Japan Interest Rate

Last Release

Jan 24, 2025

Actual

0.5

Units In

0.25

Frequency

Daily

Next Release

Mar 19, 2025

Time to Release

1 Months 9 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
9 Dec 1973	-0.1 Jan 2016	2.25 %	1972-2025	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

Bank of Japan (BoJ) should raise interest rates to 1% or higher in the fiscal half that starts in October 2025, board member Naoki Tamura said in a speech. "Raising short-term interest rates to at least around 1% in the latter half of fiscal 2025 is necessary to reduce upside risk to prices and achieve the price stability target in a sustainable and stable manner," he stated. Tamura argued that even if the central bank lifted rates to 0.75% from the current 0.5%, monetary conditions would still be loose, as real interest rates would remain negative. The former executive at Sumitomo Mitsui Financial Group is known for his hawkish stance. In December, Tamura advocated for a rate hike, citing increased risks to price stability.