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Japan Interest Rate
Last Release
Oct 31, 2023
Actual
-0.1
Units In
%
Previous
-0.1
Frequency
Daily
Next Release
Dec 19, 2023
Time to Release
19 Days 10 Hours
Highest | Lowest | Average | Date Range | Source |
9 Dec 1973 | -0.1 Jan 2016 | 2.3 % | 1972-2023 | Bank of Japan |
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.
Latest Updates
It was premature to talk about an exit from ultra-loose monetary policy in Japan, amid uncertainties from global economies such as China's sluggish growth and the potential end of aggressive interest rate hikes in the US, Bank of Japan board member Seiji Adachi said in a speech. He also mentioned that there may be early signs of a positive wage-inflation cycle in the nation but the central bank needs to see clear signs that prices and wages would rise in tandem. "For now, it's appropriate to patiently continue with our monetary easing," Adachi said, adding that moves in July and October from the board to tweak yield curve control were aimed at extending the framework, rather than at preparing for future policy normalization.
Japan Interest Rate History
Last 12 readings