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 June meeting, by an 8-1 vote, as widely expected. The board also said it would offer to buy unlimited amounts of the bonds to defend an implicit 0.25% cap every market day, repeating the guidance on market operations it made in April. Policymakers viewed that Japan's economy has picked up, despite some weakness due to the impact of COVID-19 and surging commodity prices. Private consumption has recovered, particularly in the service sector; while exports and industrial output have continued to grow. On the price front, the yoy rate of change in the CPI (all items less fresh food) is likely to be at around 2%, amid high energy and food prices. On the outlook, high uncertainties persisted, linked to coronavirus at home and abroad as well as the war in Ukraine. The BoJ reiterated that it will not hesitate to take extra easing measures if needed. source: Bank of Japan
Interest Rate in Japan averaged 2.36 percent from 1972 until 2022, 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 June 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 2023, according to our econometric models.