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.

Key information about Japan Policy Rate

• Japan cash rate (Policy Rate: Month End: Japan: Uncollateralized Overnight Call Rate) was set at 0.50 % pa in Nov 2025, compared with 0.50 % pa in the previous Oct 2025.
• Japan Policy Rate averaged 0.00 % pa and is updated monthly, available from Mar 2006 to Nov 2025.

CEIC calculates monthly Policy Rate from daily Uncollateralized Overnight Call Rate. The Bank of Japan provides Uncollateralized Overnight Call Rate. Policy Rate prior to March 2024 is calculated from daily Negative Interest Rate: QQE. Policy Rate prior to January 2016 is calculated from daily Interest Rate on Complementary Deposit Facility. 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). Policy Rate prior to December 2008 is sourced from daiily Uncollateralized Overnight Call Rate.


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 0.81 % pa in Nov 2025.
• Its Long Term Interest Rate (Bonds Yield: Government Bonds: Newly Issued: 10 Years: Month End) was reported at 1.66 % pa in Oct 2025.
• Japan Exchange Rate against USD averaged 151.35 (USD/JPY) in Oct 2025.
• Its Real Effective Exchange Rate was 54.94 in Oct 2025.

The central bank policy rate in Japan stood at *** percent in October 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 uncollateralized 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.

Monthly and long-term Japan Interest Rate data: historical series and analyst forecasts curated by FocusEconomics.

Overview with Chart & Report: BoJ Interest Rate Decision is made 8 times a year. The regulator's interest rate is used to provide loans to commercial banks. Establishing an interest rate is one of the main tools of the monetary

Key information about Japan Long Term Interest Rate

• Japan Bonds Yield: Government Bonds: Newly Issued: 10 Years: Month End was reported at 1.66 % pa in Oct 2025, compared with 1.65 % pa in the previous month.
• Japan Long Term Interest Rate data is updated monthly, available from Dec 1998 to Oct 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 0.81 % pa in Nov 2025.
• The cash rate (Policy Rate: Month End: Japan: Uncollateralized Overnight Call Rate) was set at 0.50 % pa in Nov 2025.
• Japan Exchange Rate against USD averaged 151.35 (USD/JPY) in Oct 2025.

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 September 2025, the average interest rate on ordinary deposits of financial institutions in Japan stood at around **** percent per annum. In the past years, the average interest rate on ordinary deposits had been close to zero percent. It rose to **** percent after the central bank policy rate hike in March 2024.

The BoJ Interest Rate Decision is a key economic event where the Bank of Japan sets the benchmark interest rate, influencing borrowing costs and monetary policy in Japan.-2025-06-16

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Call Money/Interbank Rate: Total for Japan (IRSTCI01JPM156N) from Jul 1985 to Oct 2025 about interbank, overnight, Japan, interest rate, interest, and rate.

Discount Rate: Central Bank: Japan data was reported at 0.750 % pa in Nov 2025. This stayed constant from the previous number of 0.750 % pa for Oct 2025. Discount Rate: Central Bank: Japan data is updated monthly, averaging 2.500 % pa from Jan 1950 (Median) to Nov 2025, with 911 observations. The data reached an all-time high of 9.000 % pa in Jul 1980 and a record low of 0.100 % pa in Jun 2006. Discount Rate: Central Bank: Japan data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.M: Discount, Prime Lending, Call and Policy Rate.

The BoJ Interest Rate Decision is a key economic event where the Bank of Japan sets the benchmark interest rate, influencing borrowing costs and monetary policy in Japan.-2026-04-27

The BoJ Interest Rate Decision is a key economic event where the Bank of Japan sets the benchmark interest rate, influencing borrowing costs and monetary policy in Japan.-2025-03-18

The BoJ Interest Rate Decision is a key economic event where the Bank of Japan sets the benchmark interest rate, influencing borrowing costs and monetary policy in Japan.-2026-12-17

The BoJ Interest Rate Decision is a key economic event where the Bank of Japan sets the benchmark interest rate, influencing borrowing costs and monetary policy in Japan.-2026-09-17

In September 2025, the average uncollateralized overnight call rate in Japan stood at around **** percent. The end-of-month rate also reached **** percent. On March 21, 2024, the Bank of Japan ended its negative interest rate policy and made a shift to encouraging the uncollateralized overnight call rate to remain between *** and *** percent. In its July 2024 Monetary Policy Meeting, the bank decided to raise the short-term interest rate to **** percent. In January 2025, a third rate hike to *** percent was implemented.

This dataset tracks the policy interest rates of the world’s top 8 central banks from 1980 to 2025, offering a unique longitudinal view into global monetary trends. Central banks included are: the Federal Reserve (USA), European Central Bank (ECB), Bank of England (BoE), Bank of Japan (BoJ), Bank of Canada (BoC), Reserve Bank of Australia (RBA), Swiss National Bank (SNB), and Sveriges Riksbank (Sweden). Note: The ECB's data begins in 1999, aligning with its establishment.

Ideal for time-series analysis, forecasting, and macroeconomic research, this dataset can be used to study inflation targeting regimes, financial crises, and policy divergence/convergence across developed economies.

From January 2022 to October 2025, a global trend emerged as almost all advanced and emerging economies increased their central bank policy rates. This widespread tightening of monetary policy was in response to inflationary pressures and economic challenges. However, a shift occurred in the latter half of 2025, with most countries beginning to lower their rates, signaling a new phase in the global economic cycle and monetary policy approach. Since September 2023, ****** has consistently held the highest interest rate among the observed countries.

In September 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 September 2025, Russia maintained the highest interest rate at 17 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 -0.3 percent in September 2025. In contrast, Russia maintained a high inflation rate of 8 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.

The BoJ Interest Rate Decision is a key economic event where the Bank of Japan sets the benchmark interest rate, influencing borrowing costs and monetary policy in Japan.-2025-04-30