The Bank of Japan left its key short-term interest rate unchanged at -0.1% and that for 10-year bond yields around 0% during its final meeting of the year, by an 8-1 vote. At the same time, policymakers decided to taper their corporate debt buying to pre-pandemic levels while extending emergency pandemic funding by six months until the end of September 2022, amid efforts to support the financing of small and medium-sized firms. The BoJ noted that Japan's economy has picked up, despite remaining in a severe situation due to the impact of COVID-19. Exports and industrial output continued to grow, amid supply-side issues; while private spending bounced back gradually, with downward pressure on services consumption waning. Meantime, the yoy rate in the CPI is likely to rise in the short run, due to rising energy costs. The board reiterated it will not hesitate to take extra easing measures if necessary while expecting short-and long-term rates to stay at their present or lower levels. source: Bank of Japan

Interest Rate in Japan averaged 2.38 percent from 1972 until 2021, 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 January of 2022.

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. In the long-term, the Japan Interest Rate is projected to trend around -0.10 percent in 2022 and 0.10 percent in 2023, according to our econometric models.

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Japan Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-22 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1%
2021-10-28 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
2021-12-17 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
2022-01-18 03:00 AM BoJ Quarterly Outlook Report
2022-01-18 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1%
2022-01-20 11:50 PM BoJ Monetary Policy Meeting Minutes


Related Last Previous Unit Reference
Interest Rate -0.10 -0.10 percent Dec/21
Money Supply M1 995226.10 987027.60 JPY Billion Dec/21
Money Supply M0 113928.20 112081.20 JPY Billion Dec/21
Money Supply M2 1178392.30 1175801.90 JPY Billion Dec/21
Money Supply M3 1531391.30 1528676.40 JPY Billion Dec/21
Central Bank Balance Sheet 723765.90 728218.60 JPY Billion Dec/21
Loans to Private Sector 504509.60 500885.60 JPY Billion Dec/21
Deposit Interest Rate -0.12 -0.15 percent Jan/22
Loan Growth 0.60 0.60 percent Dec/21

News Stream
Japan's CPI to Accelerate Gradually: BoJ Kuroda
Consumer price inflation in Japan will likely accelerate due to higher energy cost and an expected rise in demand driven by a moderate economic recovery, Bank of Japan Governor Haruhiko Kuroda said in a speech. A central bank's survey, which was conducted between November 5th and December 1st, showed that nearly 80% of Japanese households expect inflation to accelerate a year from now to its highest in more than two years and that more households expect prices to rise five years from now compared with the previous survey in September. Kuroda also noted that the Japanese economy is picking up as a trend, although it remains in a severe state due to the impact of the coronavirus pandemic.
2022-01-12
Japan Economic Recovery to be Evident in 2022
Japan's economic recovery is expected to become evident next year, as downward pressure stemming from the impact of COVID-19 and supply-side constraints are likely to wane and the government's new economic measures are projected to have positive effects, Bank of Japan (BOJ) Governor Haruhiko Kuroda said in a speech. "From a macroeconomic perspective, the coming year provides an opportunity to take large strides toward the post-pandemic era," he added. Regarding the yen's depreciation, Kuroda noted it generally pushes up Japan's economic activity. However, he acknowledged that a weak yen might have an increasingly negative impact on household income through price rises and on domestic retailers by pushing up import costs.
2021-12-23
Japan Holds Rates, Tapers Corporate Debt Buying
The Bank of Japan left its key short-term interest rate unchanged at -0.1% and that for 10-year bond yields around 0% during its final meeting of the year, by an 8-1 vote. At the same time, policymakers decided to taper their corporate debt buying to pre-pandemic levels while extending emergency pandemic funding by six months until the end of September 2022, amid efforts to support the financing of small and medium-sized firms. The BoJ noted that Japan's economy has picked up, despite remaining in a severe situation due to the impact of COVID-19. Exports and industrial output continued to grow, amid supply-side issues; while private spending bounced back gradually, with downward pressure on services consumption waning. Meantime, the yoy rate in the CPI is likely to rise in the short run, due to rising energy costs. The board reiterated it will not hesitate to take extra easing measures if necessary while expecting short-and long-term rates to stay at their present or lower levels.
2021-12-17

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.