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 October meeting, by an 8-1 vote. Meanwhile, in its quarterly report, the central bank revised its GDP projection for the current fiscal year ending in March 2021 to a contraction of 5.5 percent from an estimate of a 4.7 percent decline made in July, as the pandemic weighs on service sector output. However, the BOJ revised up its GDP forecast for the 2021 fiscal year to a 3.6 percent growth, against a 3.3 percent expansion seen earlier. Regarding inflation, the central bank expects core consumer prices to fall 0.6 percent in the current fiscal year, slightly more than a 0.5 percent drop seen in July. The central bank made no changes to a package of steps aimed at easing corporate funding strains. source: Bank of Japan

Interest Rate in Japan averaged 2.43 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 December 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.

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Japan Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 -0.10 9.00 -0.10 1972 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-06-16 02:45 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1%
2020-07-15 03:00 AM BoJ Interest Rate Decision -0.1% -0.1% -0.1% -0.1%
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 03:00 AM BoJ Interest Rate Decision -0.1% -0.1%
2020-12-22 11:50 PM BoJ Monetary Policy Meeting Minutes
2020-12-27 11:50 PM BoJ Summary of Opinions


News Stream
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
BoJ Holds Rates, Cuts 2020 GDP Outlook
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 October meeting, by an 8-1 vote. Meanwhile, in its quarterly report, the central bank revised its GDP projection for the current fiscal year ending in March 2021 to a contraction of 5.5 percent from an estimate of a 4.7 percent decline made in July, as the pandemic weighs on service sector output. However, the BOJ revised up its GDP forecast for the 2021 fiscal year to a 3.6 percent growth, against a 3.3 percent expansion seen earlier. Regarding inflation, the central bank expects core consumer prices to fall 0.6 percent in the current fiscal year, slightly more than a 0.5 percent drop seen in July. The central bank made no changes to a package of steps aimed at easing corporate funding strains.
2020-10-29
Swift Action Needed if Virus Delays Recovery: BoJ Sakurai
Bank of Japan must take swift and appropriate action if the COVID-19 shock delays the country’s economic recovery, the central bank board member Makoto Sakurai said in a speech. If the pandemic takes longer than expected to contain, more companies could be pushed under, threatening Japan’s financial system, he added. “At present, financial institutions have sufficient capital so there is no big concern over Japan’s banking system. But we need to be prepared to take swift action, with a close eye both on the economy and the banking system,” he said. The remarks came ahead of the BOJ’s rate review next week. Regarding inflation, Sakurai said it may not accelerate much for some time, as companies cope with a tight labor market with automation rather than wage hikes. The BoJ needs to ensure inflation expectations do not fall too much, as firms and households will put off spending if they expect prices to fall for a prolonged period, he noted.
2020-10-21
Japan's Economy to Continue Recover: BoJ's Kuroda
The Japanese economy is starting to pick up and is likely to continue recovering partly due to continued fiscal and monetary stimulus, Bank of Japan Governor Haruhiko Kuroda said in a speech. "Once the impact of the COVID-19 pandemic subsides globally, Japan's economy is likely to continue improving further as overseas economies resume steady growth," he added. The governor noted that Japan's banking system remains stable, amid tight corporate funding conditions. "We'll monitor the impact of the pandemic and won't hesitate taking additional easing measures as needed."
2020-10-08

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.