Japan policy interest rate
Japan policy interest rate is 1 percent, in force since 17 Jun 2026. It was 0.75 percent before that. Last checked against the official source on 12 Sep 2026.
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 percent |
|---|---|
| In force from | 2026-06-17 |
| Official source | Bank of Japan, 'Change in the Guideline for Money Market Operations', Monetary Policy Meeting decision of 16 June 2026 (Policy Board vote 7-1) |
| Last verified | 2026-09-12 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
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 |
|---|---|---|
| 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