The Bank of Japan kept its key short-term interest rate unchanged at around 0% to 0.1% at its April meeting, as widely expected, after delivering the first rate hike since 2007 and ending its eight years of negative rates in March. The central bank also said it will continue to conduct bond purchases, in line with the March decision. Friday's statement scrapped a reference that the BoJ had purchased about JPY 6 trillion per month in the past. In a quarterly outlook, the committee revised higher CPI prints for FY 2024 to 2.8% from January's projections of 2.4%, due to the waning effects of higher import prices and fewer government support measures. For 2025, the board expects core inflation to hit 1.9%, slightly higher than its earlier estimates of 1.8%, reflecting a recent rise in oil prices. On the GDP front, policymakers cut their 2023 growth forecast to 1.3% from 1.8%. For FY 2024, the bank also slashed its GDP outlook to 0.8% from 1.2%, mainly reflecting lower private consumption. source: Bank of Japan

The benchmark interest rate in Japan was last recorded at 0.10 percent. Interest Rate in Japan averaged 2.28 percent from 1972 until 2024, reaching an all time high of 9.00 percent in December of 1973 and a record low of -0.10 percent in January of 2016. This page provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

The benchmark interest rate in Japan was last recorded at 0.10 percent. Interest Rate in Japan is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Interest Rate is projected to trend around 0.10 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-01-23 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
2024-03-19 03:00 AM BoJ Interest Rate Decision 0% -0.1% 0% 0%
2024-04-26 03:00 AM BoJ Interest Rate Decision 0.1% 0.1% 0.1% 0.0%
2024-05-08 11:50 PM BoJ Summary of Opinions
2024-06-14 04:00 AM BoJ Interest Rate Decision 0.1%
2024-06-23 11:50 PM BoJ Summary of Opinions


Related Last Previous Unit Reference
Central Bank Balance Sheet 755678.00 760430.70 JPY Billion Mar 2024
Deposit Interest Rate -0.08 -0.08 percent Apr 2024
BoJ Summary of Opinions 0.10 0.10 percent Apr 2024
Bank Lending YoY 3.20 3.00 percent Mar 2024
Loans to Private Sector 539658.70 539894.10 JPY Billion Feb 2024
Money Supply M0 115506.30 116571.30 JPY Billion Feb 2024
Money Supply M1 1083117.50 1085899.50 JPY Billion Feb 2024
Money Supply M2 1238937.20 1243114.90 JPY Billion Feb 2024
Money Supply M3 1603944.10 1601788.20 JPY Billion Feb 2024
Purchases of Government Bonds 5928.90 5947.70 JPY Billion Mar 2024

Japan Interest Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.10 9.00 -0.10 1972 - 2024 percent Daily

News Stream
Bank of Japan Holds Rates, Sees Higher 2024 Inflation
The Bank of Japan kept its key short-term interest rate unchanged at around 0% to 0.1% at its April meeting, as widely expected, after delivering the first rate hike since 2007 and ending its eight years of negative rates in March. The central bank also said it will continue to conduct bond purchases, in line with the March decision. Friday's statement scrapped a reference that the BoJ had purchased about JPY 6 trillion per month in the past. In a quarterly outlook, the committee revised higher CPI prints for FY 2024 to 2.8% from January's projections of 2.4%, due to the waning effects of higher import prices and fewer government support measures. For 2025, the board expects core inflation to hit 1.9%, slightly higher than its earlier estimates of 1.8%, reflecting a recent rise in oil prices. On the GDP front, policymakers cut their 2023 growth forecast to 1.3% from 1.8%. For FY 2024, the bank also slashed its GDP outlook to 0.8% from 1.2%, mainly reflecting lower private consumption.
2024-04-26
Policy Rate Adjustment Likely be Slow: BoJ Noguchi
The pace of adjustments in policy interest rates in Japan would be incomparably slower than recent examples of other major central banks, the central bank's board member Asahi Noguchi said in a speech. He added that domestic inflation still was not very strong and that policymakers should proceed carefully with further changes in monetary policy. Noguchi believed that it would take more time before underlying inflation in the country reaches and stays around the central bank's 2% target. The Bank of Japan (BoJ) delivered the first interest rate hike since 2007 in March, halting its eight years of negative interest rates. Noguchi was known against the decision, saying the BoJ should avoid ending negative interest rates and yield curve control at the same time.
2024-04-18
Japan Ends Negative Rates, Scraps Yield Curve Control
The Bank of Japan (BoJ) raised its key short-term interest rate to around 0% to 0.1% from -0.1% in March 2024, matching market expectations and halting its eight years of negative interest rates. It is the first interest rate hike since 2007, as inflation had exceeded the central bank's 2% target in over a year while the largest companies in the country had agreed to raise salaries by 5.28%, the biggest wage hike in over three decades. However, two of the BoJ’s nine board members, Toyoaki Nakamura and Asahi Noguchi, dissented. The central bank also terminated yield curve control for 10-year government bonds and discontinued the purchases of ETF and Japan real estate investment trusts (J-REITs). Further, the BoJ will slowly reduce the pace of corporate bond buying before fully stopping it in about a year. Still, the bank added that in case of a rapid rise in long-term rates, it would make nimble responses, such as increasing the amount of JGB purchases.
2024-03-19