The benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The central bank policy rate in Japan stood at *** percent in June 2025. In March 2024, the Bank of Japan raised short-term interest rates for the first time in 17 years, ending its negative interest rate policy. From August 2024 onwards, the central bank encouraged the uncollaterized overnight call rate to remain at **** percent. A third rate hike to *** percent was implemented in January 2025. In 2016, the Bank of Japan had introduced a policy of quantitative and qualitative monetary easing (QQE) with yield curve control, one component of which included controlling short-term and long-term interest rates through market operations.

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Central Bank Rates: Total for Japan (IRSTCB01JPA156N) from 1960 to 2023 about overnight, Japan, interest rate, banks, interest, depository institutions, and rate.

Key information about Japan Long Term Interest Rate

• Japan Bonds Yield: Government Bonds: Newly Issued: 10 Years: Month End was reported at 1.37 % pa in Feb 2025, compared with 1.24 % pa in the previous month.
• Japan Long Term Interest Rate data is updated monthly, available from Dec 1998 to Feb 2025.
• The data reached an all-time high of 2.10 % pa in Jan 1999 and a record low of -0.28 % pa in Aug 2019.
• Long Term Interest Rate is reported by reported by Bank of Japan.

Data refers to yield of newly issued 10-year Japanese Government Bond yield. Yield figures before November 2014 are rates on the latest transaction. Yield figures from November 2014 onwards are rates based on JGB closing prices.


Related information about Japan Long Term Interest Rate

• In the latest reports, Japan Short Term Interest Rate: Month End: TIBOR: Japanese Yen: 3 Months was reported at 0.79 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Japan: Complementary Deposit Facility Interest Rate) was set at -0.10 % pa in Jun 2023.
• Japan Exchange Rate against USD averaged 141.36 (USD/JPY) in Jun 2023.

Japan Key Interest Rate: Central Banks data was reported at 1.250 % in 2026. This records an increase from the previous number of 0.750 % for 2025. Japan Key Interest Rate: Central Banks data is updated yearly, averaging 0.100 % from Dec 1988 (Median) to 2026, with 39 observations. The data reached an all-time high of 5.625 % in 1990 and a record low of -0.100 % in 2023. Japan Key Interest Rate: Central Banks data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Interest Rate: Forecast: OECD Member: Annual.

As of March 2025, the average interest rate on new time deposits of 10 million yen or more of banks in Japan reached *** percent per annum for time deposits with a maturity of three to under six months. Fixed-term deposits with a maturity of six months to less than one year reached an interest rate of **** percent per annum.

FocusEconomics' economic data is provided by official state statistical reporting agencies as well as our global network of leading banks, think tanks and consultancies. Our datasets provide not only historical data, but also Consensus Forecasts and individual forecasts from the aformentioned global network of economic analysts. This includes the latest forecasts as well as historical forecasts going back to 2010. Our global network consists of over 1000 world-renowned economic analysts from which we calculate our Consensus Forecasts. In this specific dataset you will find economic data for Japan Interest Rate.

Key information about Japan Policy Rate

• Japan cash rate (Policy Rate: Month End: Japan: Complementary Deposit Facility Interest Rate) was set at -0.10 % pa in Jun 2023, compared with -0.10 % pa in the previous May 2023.
• Japan Policy Rate averaged -0.10 % pa and is updated monthly, available from Nov 2008 to Jun 2023.
• The data reached an all-time high of 0.10 % pa in Jan 2016 and a record low of -0.10 % pa in Jun 2023.

As of April 2013, Bank of Japan has switched to the amount of monetary base as its main operating tool. Under this arrangement, the Complementary Deposit Facility Interest Rate can be used as an indication of monetary policy. It represents the interest paid on excess reserve balances (balances held at the account with the Bank of Japan in excess of required reserves under the reserve deposit requirement system).


Related information about Japan Policy Rate

• In the latest reports, Japan Short Term Interest Rate: Month End: TIBOR: Japanese Yen: 3 Months was reported at 0.07 % pa in Jun 2023.
• Its Long Term Interest Rate (Bonds Yield: Government Bonds: Newly Issued: 10 Years: Month End) was reported at 0.43 % pa in May 2023.
• Japan Exchange Rate against USD averaged 137.05 (USD/JPY) in May 2023.
• Its Real Effective Exchange Rate was 59.46 in May 2023.

In the fiscal year 2024, the loan to deposit spread in the domestic business of banks in Japan reached **** percent. The loan to deposit spread is the difference between a bank's lending rate and deposit rate.

Key information about Japan Bank Lending Rate

• Japan Bank Lending Rate was reported at 1.625 % pa in Feb 2025.
• This stayed constant from the previous number of 1.625 % pa for Jan 2025.
• Japan Bank Lending Rate data is updated monthly, averaging 1.625 % pa from Jan 1971 to Feb 2025, with 650 observations.
• The data reached an all-time high of 9.250 % pa in Jul 1980 and a record low of 1.375 % pa in Jul 2006.
• Japan Bank Lending Rate data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Bank Lending Rate: Monthly.

The International Monetary Fund provides monthly Bank Lending Rate.

In May 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 20 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in May 2025. In contrast, Russia maintained a high inflation rate of 9.9 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

Deposit Interest Rate in Japan increased to 0.23 percent in June from 0.22 percent in May of 2025. This dataset includes a chart with historical data for Deposit Interest Rate in Japan.

Japan CAB: City Banks: +ve Interest Rate Applied data was reported at 79,447.500 JPY bn in Feb 2024. This records an increase from the previous number of 79,435.100 JPY bn for Jan 2024. Japan CAB: City Banks: +ve Interest Rate Applied data is updated monthly, averaging 80,519.200 JPY bn from Feb 2016 (Median) to Feb 2024, with 97 observations. The data reached an all-time high of 81,359.400 JPY bn in Feb 2016 and a record low of 79,393.200 JPY bn in May 2023. Japan CAB: City Banks: +ve Interest Rate Applied data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.KA006: Bank of Japan Current Account Balances.

In December 2024, the median interest rate on housing loans issued by city banks in Japan stood at about **** percent per annum, increasing for the first time in years. City banks are the largest banks in Japan.

Interest payments (% of revenue) in Japan was reported at 8.4376 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Interest payments (% of revenue) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

As of the end of 2024, the basic discount rate and basic loan rate in Japan stood at 0.3 percent per annum. The basic discount and loan rate, formerly the official discount rate, is set by the Bank of Japan and acts as an upper limit for the interest rates of uncollateralized transactions in the financial market for lending and borrowing of short-term funds.

Interest payments (% of expense) in Japan was reported at 6.2605 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Interest payments (% of expense) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Japan CAB: City Banks: 0 Interest Rate Applied data was reported at 105,034.900 JPY bn in Feb 2024. This records a decrease from the previous number of 106,709.500 JPY bn for Jan 2024. Japan CAB: City Banks: 0 Interest Rate Applied data is updated monthly, averaging 64,285.400 JPY bn from Feb 2016 (Median) to Feb 2024, with 97 observations. The data reached an all-time high of 117,617.100 JPY bn in Apr 2023 and a record low of 12,205.200 JPY bn in Feb 2016. Japan CAB: City Banks: 0 Interest Rate Applied data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.KA006: Bank of Japan Current Account Balances.

The yield on Japan 10Y Bond Yield rose to 1.58% on July 14, 2025, marking a 0.07 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.12 points and is 0.53 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Japan 10 Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

Japan CAB: Other Institutions Subject to the RR: 0 Interest Rate Applied data was reported at 52,564.500 JPY bn in Feb 2024. This records an increase from the previous number of 52,375.700 JPY bn for Jan 2024. Japan CAB: Other Institutions Subject to the RR: 0 Interest Rate Applied data is updated monthly, averaging 27,550.100 JPY bn from Feb 2016 (Median) to Feb 2024, with 97 observations. The data reached an all-time high of 57,611.600 JPY bn in Apr 2023 and a record low of 3,813.200 JPY bn in Feb 2016. Japan CAB: Other Institutions Subject to the RR: 0 Interest Rate Applied data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.KA006: Bank of Japan Current Account Balances.