The Bank of Japan left its key short-term interest rate unchanged at -0.1% and maintained the target for the 10-year Japanese government bond yield at around 0% during its April meeting, as widely expected. In a quarterly outlook report, the central bank slashed its consumer inflation forecast for the current fiscal year to 0.1% from earlier predictions made in January of 0.5%, amid downward pressure on service spending. Policymakers also warned of lingering risks to the economic outlook as the COVID-19 pandemic continues to hurt consumption. Meantime, the projected rates of rise in the GDP for the current fiscal year were little changed (4% vs 3.9% made in January). The central bank reaffirmed it would not hesitate to take additional easing measures if necessary. In 2020, the BoJ eased monetary policy twice, mostly by expanding asset-buying and creating a new facility to deliver funds via financial institutions to companies hit by a coronavirus. source: Bank of Japan
Interest Rate in Japan averaged 2.41 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 May of 2021.
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 2022, according to our econometric models.