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 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.

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.

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.

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.

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.; ;

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.; ;

Japan JP: Interest Rate Spread data was reported at 0.744 % pa in 2016. This records an increase from the previous number of 0.737 % pa for 2015. Japan JP: Interest Rate Spread data is updated yearly, averaging 3.170 % pa from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 4.211 % pa in 1962 and a record low of 0.737 % pa in 2015. Japan JP: Interest Rate Spread 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. Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; Median;

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.

On July 8, 2025, the lowest interest rate on variable-rate housing loans posted by financial institutions in Japan was **** percent. The median floating-rate mortgage rate set by city banks in Japan was around **** percent.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Japan (IRLTLT01JPM156N) from Jan 1989 to Oct 2025 about long-term, 10-year, Japan, bonds, yield, government, interest rate, interest, and rate.

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.

Between January and July 2025, the average contract interest rate of outstanding loans granted by banks in Japan stood at **** percent per annum, up from **** percent per annum in the previous year. City banks and regional banks had the lowest average interest rate for outstanding loans.

Deposit Interest Rate in Japan remained unchanged at 0.23 percent in November. This dataset includes a chart with historical data for Deposit Interest Rate in Japan.

Inflation Rate in Japan increased to 3 percent in October from 2.90 percent in September of 2025. This dataset provides the latest reported value for - Japan Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, Japan had an average inflation rate of 2.74 percent. Japan's inflation rate had hit a record high in 2023 at 3.27 percent, marking the highest rate of inflation in Japan in recent times. However, this figure was still very low compared to most other major economies, such as Japan's fellow G7 members, four of which had inflation rates around six or seven percent in 2023 due to the global inflation crisis. Why is Japan's inflation rate lower? There are a number of contributing factors to Japan's relatively low inflation rate, even during economic crises. Japan eased its Covid restrictions more slowly than most other major economies, this prevented post-pandemic consumer spending that may have driven inflation through supply chain issues caused by higher demand. As the majority of Japan's food and energy comes from overseas, and has done so for decades, the government has mechanisms in place to prevent energy and wheat prices from rising too quickly. Because of this, Japan was able to shield its private sector from many of the negative knock on effects from Russia's invasion of Ukraine, which had a significant impact on both sectors globally. Persistent deflation and national debt An additional factor that has eased the impact of inflation on Japan's economy is the fact that it experienced deflation before the pandemic. Deflation has been a persistent problem in Japan since the asset price bubble burst in 1992, and has been symptomatic of Japan's staggering national debt thereafter. For almost 30 years, a combination of quantitative easing, low interest rates (below 0.5 percent since 1995, and at -0.1% since 2016), and a lack of spending due to low wages and an aging population have combined to give Japan the highest national debt in the world in absolute terms, and second-highest debt in relation to its GDP, after Venezuela. Despite this soaring debt, Japan remains the fourth-largest economy in the world, behind the U.S., China, and Germany.

Japan JP: Deposit Interest Rate data was reported at 0.300 % pa in 2016. This records a decrease from the previous number of 0.406 % pa for 2015. Japan JP: Deposit Interest Rate data is updated yearly, averaging 2.688 % pa from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 5.500 % pa in 1980 and a record low of 0.036 % pa in 2002. Japan JP: Deposit 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. Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; ;

From 2010 to 2017, Australia had the highest short-term interest rate among selected countries worldwide. Afterward, its rates became more aligned with those of Canada and the United States. The lowest short-term interest rates during this period were found in the Euro area and Japan, as well as in the United States until 2015, where rates remained below *** percent. In 2021, all regions except Japan experienced a decrease in interest rates. However, in the following years, rates increased. As of 2024 short term interest rates rested as roughly *** percent for Australia and Canada, *** in the Euro area, and over **** percent in the U.S.. Japan had the lowest rate at **** percent.

In December 2024, the median interest rate of three-year fixed rate housing loans provided by city banks in Japan stood at **** percent. After reaching a record low in 2017, the interest rate has gradually increased, reaching a decade high in December 2024.