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.

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Japan Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 -0.10 9.00 -0.10 1972 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-12-18 03:45 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
2021-01-21 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
2021-03-19 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
2021-04-27 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
2021-06-18 03:00 AM BoJ Interest Rate Decision -0.1%
2021-06-22 11:50 PM BoJ Monetary Policy Meeting Minutes
2021-06-27 11:50 PM BoJ Summary of Opinions
2021-07-16 03:00 AM BoJ Quarterly Outlook Report


News Stream
BoJ Holds Rates, Revises Down 2021 Inflation Outlook
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.
2021-04-27
BoJ Holds Rates, Widens Yield Band
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 March meeting, as widely expected. Meantime, the central bank decided to widen the band at which it allows long-term interest rates to move around its 0% target, amid efforts to make its ultra-easy policy more sustainable on the back of the COVID-19 pandemic and a continued battle to boost inflation. Policymakers removed their explicit guidance to buy ETF at an annual pace of roughly JPY 6 trillion, saying they would buy it when necessary and maintain a JPY 12 trillion ceiling for annual purchases. The BoJ also mentioned that it would allow long-term rates to move up and down by 0.25% from its target, instead of by 0.2%
2021-03-19
BoJ Holds Rates, Revised Higher 2021 GDP Forecast
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 January meeting by a 7-1 vote. In a quarterly outlook report, the central bank revised higher its GDP growth projection for the next fiscal year beginning in April to a 3.9% growth from an estimate of 3.6% made in October, reflecting the effects of the government's measures with the impact of COVID-19 gradually waning. Meantime, the BoJ's economic forecast for the current fiscal year was little changed (-5.5% vs -5.6% made in October). The projected rates of rise in the CPI were more or less unchanged. 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 coronavirus.
2021-01-21
BoJ Ready to Expand Stimulus: Governor Kuroda
The Bank of Japan is ready to launch more monetary stimulus if COVID-19 in the country threatened to derail a fragile economic recovery, Governor Haruhiko Kuroda said in a speech on Thursday. The remarks came ahead of the central bank’s two-day policy meeting next week, when it will issue fresh quarterly growth forecasts. Kuroda noted that the Japanese economy was picking up, even as an expanded state of emergency declared on Wednesday. “The BOJ will scrutinise the impact of the pandemic for the time being and stand ready to take additional easing steps without hesitation if needed,” he said.
2021-01-14

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.