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 0.5 percent in February 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 0.25 percent. A third rate hike to 0.5 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 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.

Japan JP: Real Interest Rate data was reported at 0.769 % pa in 2016. This records an increase from the previous number of -0.978 % pa for 2015. Japan JP: Real Interest Rate data is updated yearly, averaging 2.802 % pa from Dec 1961 (Median) to 2016, with 56 observations. The data reached an all-time high of 6.125 % pa in 1983 and a record low of -12.450 % pa in 1970. Japan JP: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Japan – Table JP.World Bank.WDI: Interest Rates. Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files using World Bank data on the GDP deflator.; ;

In February 2025, the long-term prime lending rate in Japan was 2.2 percent per annum. The long-term prime lending rate is an interest rate for long-term loans of one year or more to companies with high credit ratings set by Mizuho Bank.

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 JP: Lending Interest Rate data was reported at 1.045 % pa in 2016. This records a decrease from the previous number of 1.143 % pa for 2015. Japan JP: Lending Interest Rate data is updated yearly, averaging 6.151 % pa from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 9.113 % pa in 1974 and a record low of 1.045 % pa in 2016. Japan JP: Lending Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Japan – Table JP.World Bank.WDI: Interest Rates. Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; ;

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

As of March 2025, the average interest rate on ordinary deposits of financial institutions in Japan stood at around 0.16 percent per annum. In the past years, the average interest rate on ordinary deposits had been close to zero percent. It rose to 0.02 percent after the central bank policy rate hike in March 2024.

Japan Interest Rate Swap: Yen: 5 Year data was reported at 0.075 % pa in Nov 2018. This records a decrease from the previous number of 0.120 % pa for Oct 2018. Japan Interest Rate Swap: Yen: 5 Year data is updated monthly, averaging 0.500 % pa from Nov 2000 (Median) to Nov 2018, with 217 observations. The data reached an all-time high of 1.643 % pa in Jun 2007 and a record low of -0.159 % pa in Jun 2016. Japan Interest Rate Swap: Yen: 5 Year data remains active status in CEIC and is reported by Sumitomo Mitsui Trust Bank. The data is categorized under Global Database’s Japan – Table JP.M015: Interbank and Swap Rates.

As of March 2025, the average interest rate on new one-year time deposits of 10 million yen or more of banks in Japan was around 0.21 percent per annum. The rate increased from 0.01 percent in April 2024, following the central bank's first interest hike in 17 years.

Japan Housing Loan: Floating Interest Rate: City Banks data was reported at 2.475 % pa in Oct 2018. This stayed constant from the previous number of 2.475 % pa for Sep 2018. Japan Housing Loan: Floating Interest Rate: City Banks data is updated monthly, averaging 2.475 % pa from Jun 1987 (Median) to Oct 2018, with 377 observations. The data reached an all-time high of 8.500 % pa in Jan 1991 and a record low of 2.375 % pa in Sep 2006. Japan Housing Loan: Floating Interest Rate: City Banks data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.M014: Mortgage Rate.

Japan Interest Rate Swap: Yen: 7 Year data was reported at 0.135 % pa in Nov 2018. This records a decrease from the previous number of 0.191 % pa for Oct 2018. Japan Interest Rate Swap: Yen: 7 Year data is updated monthly, averaging 0.785 % pa from Nov 2000 (Median) to Nov 2018, with 217 observations. The data reached an all-time high of 1.884 % pa in Apr 2006 and a record low of -0.120 % pa in Jun 2016. Japan Interest Rate Swap: Yen: 7 Year data remains active status in CEIC and is reported by Sumitomo Mitsui Trust Bank. The data is categorized under Global Database’s Japan – Table JP.M015: Interbank and Swap Rates.

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.

Graph and download economic data for Interest Rates, Discount Rate for Japan from Jan 1953 to Apr 2017 about Japan, interest rate, interest, and rate.

Japan Interest Rate Swap: Yen: 1 Year data was reported at 0.010 % pa in Nov 2018. This records a decrease from the previous number of 0.028 % pa for Oct 2018. Japan Interest Rate Swap: Yen: 1 Year data is updated monthly, averaging 0.173 % pa from Nov 2000 (Median) to Nov 2018, with 217 observations. The data reached an all-time high of 1.103 % pa in May 2008 and a record low of -0.094 % pa in Feb 2016. Japan Interest Rate Swap: Yen: 1 Year data remains active status in CEIC and is reported by Sumitomo Mitsui Trust Bank. The data is categorized under Global Database’s Japan – Table JP.M015: Interbank and Swap Rates.

Forecast: Bank Lending Interest Rate in Japan 2022 - 2026 Discover more data with ReportLinker!

Japan Interest Rate Swap: Yen: 3 Year data was reported at 0.035 % pa in Nov 2018. This records a decrease from the previous number of 0.068 % pa for Oct 2018. Japan Interest Rate Swap: Yen: 3 Year data is updated monthly, averaging 0.305 % pa from Nov 2000 (Median) to Nov 2018, with 217 observations. The data reached an all-time high of 1.380 % pa in May 2008 and a record low of -0.195 % pa in Feb 2016. Japan Interest Rate Swap: Yen: 3 Year data remains active status in CEIC and is reported by Sumitomo Mitsui Trust Bank. The data is categorized under Global Database’s Japan – Table JP.M015: Interbank and Swap Rates.

Japan JP: Short-Term Interest Rate: Single Hit Scenario data was reported at -0.092 % in 2021. This stayed constant from the previous number of -0.092 % for 2020. Japan JP: Short-Term Interest Rate: Single Hit Scenario data is updated yearly, averaging 1.228 % from Dec 1969 (Median) to 2021, with 53 observations. The data reached an all-time high of 14.512 % in 1974 and a record low of -0.092 % in 2021. Japan JP: Short-Term Interest Rate: Single Hit Scenario 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. IRS - Short-term interest rate Short-term interest:https://stats.oecd.org/glossary/detail.asp?ID=1394; Japan interbank 3 mth (LDN:BBA) - offered rate. Available from 1986 onwards.