Japan policy interest rate
Japan policy interest rate is 1.25 percent, in force since 24 Sep 2026, cited to Bank of Japan. It was 1 percent before that. Last checked against the official source on 9 Oct 2026.
Official source: Bank of Japan · Last checked 2026-10-09 · source fingerprint
Target level for the uncollateralized overnight call rate set by the Bank of Japan Policy Board in its Guideline for Money Market Operations; Japan's operative policy rate since the March 2024 exit from yield-curve control and negative rates.
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| Current value | 1.25 percent |
|---|---|
| In force from | 2026-09-24 |
| Official source | Bank of Japan, 'Change in the Guideline for Money Market Operations', Monetary Policy Meeting of 18 September 2026 (7-2 vote): 'The Bank will encourage the uncollateralized overnight call rate to remain at around 1.25 percent', effective from 24 September 2026 |
| Last verified | 2026-10-09 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
UPDATE 2026-10-09 (coverage re-verify): raised from around 1.0 percent to around 1.25 percent at the 18 Sep 2026 MPM (7-2 majority), effective 24 Sep 2026 (footnote 1 of the decision PDF). Complementary deposit facility rate 1.25 percent and basic loan rate 1.5 percent, same effective date. Note: the series was restamped on 2026-09-18 by provenance-byte-identity against the June PDF, which was still byte-identical - that check proves the cited document did not change, not that it is still the latest decision. CARRIED FORWARD (notes written for the previous value; access quirks and traps still apply): Guideline wording: 'The Bank will encourage the uncollateralized overnight call rate to remain at around 1.0 percent', effective 2026-06-17; raised from around 0.75 percent by 7-1 vote (Asada dissenting; Governor Ueda absent, Deputy Governor Himino chaired). Complementary deposit facility rate set at 1.0 percent and basic loan rate (complementary lending facility) at 1.25 percent, same date. Normalization path: negative-rate exit to 0-0.1 percent (Mar 2024), 0.25 percent (Jul 2024), 0.5 percent (effective 2025-01-27), 0.75 percent (effective 2025-12-22), 1.0 percent (effective 2026-06-17). The June 2026 statement says the Bank 'will continue to raise the policy interest rate' as conditions allow, so this value is live. Access quirk: BoJ English decision documents are PDF-only; the June 2026 rate change was released as a 'Change in the Guideline' document rather than a titled 'Statement on Monetary Policy' - check both listings at /en/mopo/mpmdeci/state_2026/ when re-verifying.
Earlier values
| From | Value | Source |
|---|---|---|
| 2026-06-17 | 1 | Bank of Japan, 'Change in the Guideline for Money Market… |
| 2025-12-22 | 0.75 | Bank of Japan, 'Change in the Guideline for Money Market… |
| 2025-01-27 | 0.5 | Bank of Japan, 'Change in the Guideline for Money Market… |
| 2024-08-01 | 0.25 | Bank for International Settlements - Central Bank Policy… |
| 2024-03-21 | 0.05 | Bank for International Settlements - Central Bank Policy… |
| 2018-01-01 | -0.1 | Bank for International Settlements - Central Bank Policy… |
Get it programmatically
curl https://asiaref.dev/v1/jp/policy-rate
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://asiaref.dev/v1/jp/policy-rate/history?from=2020-01-01
# Provenance: curl https://asiaref.dev/provenance/jp/policy-rateOther Japan series: Statutory interest (法定利率) · Consumption tax (standard rate) · VAT registration threshold · Minimum wage (lowest prefectural regional minimum wage) · Public holidays · Consumer price inflation (CPI, all items, year-on-year) · Corporate income tax (national corporation tax, standard rate) · Withholding tax rates · Personal income tax (national, progressive bands) · Statutory social-insurance contributions
The same figure elsewhere: Jordan · Kazakhstan · Kuwait · Malaysia · Nepal · all 28