The Bank of Japan left its key short-term interest rate unchanged at -0.1% and kept the target for the 10-year Japanese government bond yield at around 0% during its July meeting by an 8-1 vote, as widely expected. In a quarterly outlook report, the central bank slashed its projected rates of the GDP for the current FY to 3.8% from earlier forecasts of 4% made in April, amid the impact of COVID-19. The board, however, maintained its view the economy was headed for a moderate recovery, revising up its growth forecast for next FY to 2.7% from 2.4% as vaccinations accelerate. Meantime, the board revised sharply higher consumer inflation forecast for the current FY to 0.6% from earlier predictions of 0.1%, due to higher energy prices. Policymakers also released an outline of its new scheme aimed at boosting funding for activities against climate change, which will offer banks long-term loans at zero interest. The climate scheme will be launched this year and last until FY 2030. source: Bank of Japan
Interest Rate in Japan averaged 2.40 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 July 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 and 0.10 percent in 2023, according to our econometric models.