The Bank of Japan maintained its key short-term interest rate at -0.1% and that for 10-year bond yields around 0% during its July meeting, by an 8-1 vote; but cut its 2022 GDP growth forecast to 2.4% from 2.9% made in April, citing a slowdown in overseas economies and persistent supply chain issues due to the prolonged war in Ukraine. For the FY 2023 and 2024, however, the committee revised slightly higher its GDP outlook to 2.0% from an earlier projection of 1.9%; and to 1.3% from 1.1%. In a quarterly outlook report, the board raised its 2022 inflation forecast to 2.3% from 1.9%, amid surging prices of energy, food, and durable goods. The BoJ reiterated that it will not hesitate to take extra easing measures if needed, a sign that it will remain an outlier among a global wave of central banks tightening policy. The central bank also mentioned that it would continue to buy unlimited amounts of the bonds to defend an implicit 0.25% cap every market day, as it has been doing since April. source: Bank of Japan
Interest Rate in Japan averaged 2.35 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 August 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.