The Bank of Japan left its key short-term interest rate unchanged at -0.1 percent and maintained the target for the 10-year Japanese government bond yield at around 0 percent during its October meeting, by an 8-1 vote. Meanwhile, in its quarterly report, the central bank revised its GDP projection for the current fiscal year ending in March 2021 to a contraction of 5.5 percent from an estimate of a 4.7 percent decline made in July, as the pandemic weighs on service sector output. However, the BOJ revised up its GDP forecast for the 2021 fiscal year to a 3.6 percent growth, against a 3.3 percent expansion seen earlier. Regarding inflation, the central bank expects core consumer prices to fall 0.6 percent in the current fiscal year, slightly more than a 0.5 percent drop seen in July. The central bank made no changes to a package of steps aimed at easing corporate funding strains. source: Bank of Japan
Interest Rate in Japan averaged 2.43 percent from 1972 until 2020, reaching an all time high of 9 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 November of 2020.
Interest Rate in Japan is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Japan to stand at -0.10 in 12 months time. In the long-term, the Japan Interest Rate is projected to trend around -0.10 percent in 2021 and 0.10 percent in 2022, according to our econometric models.