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.

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.

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.

Food price inflation has affected the spending habits on edibles of the majority of Japanese consumers, according to a survey in May 2025. ************ respondents switched to less expensive products from the same genre, whereas ***** percent would often stop buying the food items affected by price hikes.

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.

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

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;

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.

Japan: Real interest rate: Bank lending rate minus inflation: The latest value from 2017 is 1.07 percent, an increase from 0.62 percent in 2016. In comparison, the world average is 5.12 percent, based on data from 122 countries. Historically, the average for Japan from 1993 to 2017 is 2.54 percent. The minimum value, -0.95 percent, was reached in 2015 while the maximum of 4.31 percent was recorded in 1993.

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 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.

The yield on Japan 10Y Bond Yield eased to 1.86% on December 2, 2025, marking a 0.02 percentage points decrease from the previous session. Over the past month, the yield has edged up by 0.20 points and is 0.78 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 December of 2025.

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.

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.

Long-term interest rate in Japan, September, 2025 The most recent value is 1.65 percent as of September 2025, an increase compared to the previous value of 1.6 percent. Historically, the average for Japan from January 1989 to September 2025 is 1.81 percent. The minimum of -0.28 percent was recorded in August 2019, while the maximum of 8.03 percent was reached in September 1990. | TheGlobalEconomy.com

According to a survey conducted in October 2021 in Japan, the share of people participating in mountain climbing and hiking amounted to *** percent. This was the lowest figure during the surveyed period.

Japan's main stock market index, the JP225, rose to 49553 points on December 2, 2025, gaining 0.51% from the previous session. Over the past month, the index has declined 3.78%, though it remains 26.25% higher than a year ago, according to trading on a contract for difference (CFD) that tracks this benchmark index from Japan. Japan Stock Market Index (JP225) - values, historical data, forecasts and news - updated on December of 2025.

The USD/JPY exchange rate rose to 155.6000 on December 2, 2025, up 0.09% from the previous session. Over the past month, the Japanese Yen has weakened 0.90%, and is down by 4.00% over the last 12 months. Japanese Yen - values, historical data, forecasts and news - updated on December of 2025.

Japan BOJ Forecast: Consumer Price Index (CPI): excl Consumption Tax Hike: YoY: Median data was reported at 1.800 % in 2020. This stayed constant from the previous number of 1.800 % for 2019. Japan BOJ Forecast: Consumer Price Index (CPI): excl Consumption Tax Hike: YoY: Median data is updated yearly, averaging 0.900 % from Mar 2014 (Median) to 2020, with 7 observations. The data reached an all-time high of 1.800 % in 2020 and a record low of -0.200 % in 2016. Japan BOJ Forecast: Consumer Price Index (CPI): excl Consumption Tax Hike: YoY: Median data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I006: Consumer Price Index: YoY% Change: Forecast: Bank of Japan.