The Bank of Japan kept its key short-term interest rate at -0.1% and maintained the target for the 10-year Japanese government bond yield at around 0% during its September meeting, by an 8-1 vote. The decision came hours after the US Federal Reserve pledged to hold interest rates near zero until at least 2023. Japanese policymakers slightly upgraded their views on the economy, saying it remains in a severe state but has started to recover as business activity gradually resumes. In July, the central bank said the economy was in "extremely severe state." Meantime, the yoy CPI (all items less fresh food) is likely to be negative for the time being, mainly affected by COVID-19 and the past drop in oil prices. Thereafter, it is expected to turn positive and rise gradually, as downward pressure is projected to wane gradually. On Wednesday, Yoshihide Suga was elected as Japan's new prime minister, replacing Shinzo Abe that abruptly resigned last month due to poor health. source: Bank of Japan
Interest Rate in Japan averaged 2.44 percent from 1972 until 2020, 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 October of 2020.
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 2021 and 0.10 percent in 2022, according to our econometric models.