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 vis financial institutions to companies hit by coronavirus. source: Bank of Japan

Interest Rate in Japan averaged 2.42 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 February 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
2020-09-17 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
2020-10-29 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
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%
2021-02-12 12:00 AM BoJ Nakamura Speech
2021-03-19 03:00 AM BoJ Interest Rate Decision -0.1% -0.1%
2021-03-23 11:50 PM BoJ Monetary Policy Meeting Minutes
2021-03-28 11:50 PM BoJ Summary of Opinions


News Stream
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
BoJ Holds Rates, Extends Fund Scheme
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 December meeting by an 8-1 vote. The BoJ also mentioned that it will not change its yield curve control or quantitative easing framework. However, the central bank said will extend the duration of additional purchases of CP and corporate bonds by six months until the end of September 2021, with an upper limit on the amount outstanding of about JPY 20 trillion. In addition, the bank also extended by six months to September 2021 its fund-aid scheme for companies hit by the COVID-19 crisis. In an unexpected move, policymakers added they will begin looking into better ways to achieve its inflation target of 2 percent and release its finding in March.
2020-12-18
BoJ Signals Readiness to Extend Virus Relief Measures
The Bank of Japan is ready to extend beyond March fund aid schemes for companies affected by the COVID-19 crisis, the central bank Deputy Governor Masayoshi Amamiya said in an online speech. He added that the impact of the pandemic will linger, keeping any recovery moderate and companies under financial stress. "We need to extend as needed the deadline of our program to deal with the pandemic fallout," he said, adding that the central bank will take additional easing steps without hesitation as necessary.
2020-12-02

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.