Download historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data. With its monetary policy the BoJ seeks to support the healthy development of the national economy by ensuring price stability. By the time the BOJ announced its NIRP, the Japanese government's rate … Reference 1972-2020 Data | 2021-2022 Forecast | Calendar | Historical

Monetary Policy Meetings produce a guideline for money market operations in inter-meeting periods and this guideline is written in terms of a target for the uncollateralized overnight call rate. The BOJ has paid 0.1% interest to banks on a total of about 208 trillion yen deposits, while the remainder carries zero interest. Bank of Japan policymakers debated how the COVID-19 pandemic could reshape monetary policy and its impact on the economy, a summary of their opinions at a July rate … Policymakers also maintained to buy ETFs and J-REITs so that their amounts outstanding will rise at an annual pace of JPY 12 trillion and about JPY 180 billion, respectively, but launched a new lending program worth JPY 30 trillion ($279 billion) to support small businesses struggling with the fallout from the COVID-19 pandemic. No country has proven less effective with low-interest-rate policies or high national debt than Japan. Policymakers noted that the outlook for economic activity and prices are extremely unclear, depending on the consequences of the virus and the magnitude of their impacts on domestic and overseas economies. Meantime, in a quarterly outlook report, the central bank said that Japan's economy is likely to improve gradually from the second half of this year, with the pace is expected to be only moderate while the impact of COVID-19 remains worldwide.

The Bank of Japan kept its key short-term interest rate at -0.1% and maintained the target for the 10-year Japanese government bond yield at around 0% during its July meeting, by an 8-1 vote. These banks will be given 0.1% interest on their current account deposits at the BOJ in proportion to the amounts of interest-free loans they receive from the central bank.In Japan, interest rates are set by the Bank of Japan's Policy Board in its Monetary Policy Meetings. BoJ Interest Rate Decision is announced by the Bank of Japan.

Under the new program, which will remain in place through the end of March 2021, the BOJ provides 0% loans to commercial banks that extend interest-free lending to clients under the government's virus relief package. Current Account Balances at the Bank of Japan billion yen Basic Loan Rate 0.3 % (since December 19, 2008) Interest Rate Applied to the Complementary Deposit Facility minus 0.1 % (applied to the Policy-Rate Balance, since February 16, 2016) Uncollateralized Overnight Call Rate(average) % Next Monetary Policy Meeting Date September 16 and 17, 2020 The Bank of Japan kept its key short-term interest rate at -0.1% and maintained the target for the 10-year Japanese government bond yield at around 0% during its July meeting, by an 8-1 vote. Policymakers maintained the optimistic outlook for the economy, saying activity is expected to resume gradually supported by accommodative financial conditions and the government's economic measures, but said the central bank stands ready to ease policy again if needed.The balance of monetary base, or the amount of cash in circulation and deposits at the Bank of Japan, increased 2.7 percent from the previous month to JPY 543.4 trillion at the end of May 2020, a record high for the second consecutive month. Based on the assumption that a second wave of infections will not occur, the GDP for the 2020 fiscal year is expected to shrink between 4.5% to 5.7%, compared with an earlier forecast of -4.7%. Meantime, the CPI is projected to drop between 0.4% to 0.6%, compared with the previous estimate of -0.5%.The Bank of Japan kept its key short-term interest rate at -0.1 percent and maintained long-term borrowing costs around zero during its June meeting, but increased the size of its lending packages for cash-strapped firms to $1 trillion from about $700 billion announced last month aimed at mitigating the negative impact of the pandemic. The Trading Economics Application Programming Interface (API) provides direct access to our data. Bank of Japan The Bank of Japan (BoJ), Japan’s central bank, is also called Nichigin. TEForecast Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. The BoJ's official interest rate is the discount rate. The central bank has been injecting cash into the banking sector to boost lending to businesses and consumers hit by the coronavirus pandemic. For a graphic on BOJ's three-tier interest rates: Note: at this time the BoJ has adopted an interest rate range of 0% to -0.1%. The Bank of Japan left its short-term interest rate unchanged at -0.1% during an emergency meeting on May 22nd, but launched a new lending program worth JPY 30 trillion to support the economy.The Bank of Japan left its short-term interest rate unchanged at -0.1% during an emergency meeting on May 22nd. Research Papers and Reports Related to Monetary PolicyResearch Papers and Reports Related to Financial SystemSpeeches and Statements Related to Financial SystemResearch Papers and Reports Related to Payments and MarketsSpeeches and Statements Related to Payments and MarketsResearch Papers and Reports Related to Banknotes, Treasury Funds and JGS ServicesSpeeches and Statements Related to Banknotes, Treasury Funds and JGS ServicesResearch Papers and Reports Related to International FinanceSpeeches and Statements Related to International FinanceSchedule for Releases of Statistical Data and Publications Bank of Japan (BOJ) policy board members come to a consensus on where to set the rate. The central bank made no major changes to a range of programs it has launched to deliver money via financial institutions into companies faced with plunging sales due to the pandemic.
The Basic Discount Rate and Basic Loan Rate Average Interest Rates by Type of Deposit Average Interest Rates on Time Deposits by Term Prime Lending Rates (Principal Banks) Average Contract Interest Rates on Loans and Discounts.


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