Next release
Released 8 times per yearJul 31, 2026 03:00 UTC
in 40 days
Latest result
The most recent Bank of Japan Rate Decision (Jun 16, 2026) printed 1.00% versus 1.0% expected (previous 0.75%) — in line with forecast.
What it measures
This is the Bank of Japan's decision on interest rates. For decades Japan kept rates near zero to fight falling prices, so the big question at each meeting is how far and how fast it will move away from that. The decision comes with updated forecasts and a press conference, which often matter more than the move itself.
Higher rates reward holding the yen, so any step up, or a hint of one, tends to lift it, while staying easy keeps it weak. What makes Japan different is that the Bank will only raise rates once it is convinced that pay and prices will keep rising together, so the spring wage negotiations (known as the Shunto) are the single biggest clue to its next move. The yen has two other faces to hold in mind: it is a safe haven that strengthens when markets panic, and it is the currency people borrow cheaply to buy higher-yielding ones, so a surprise hike can force those trades to unwind and snap the yen sharply higher. Because the yen also weakens steadily when Japanese rates stay far below others, the finance ministry sometimes steps into the market to slow a sharp fall.
What a higher or lower Bank of Japan Rate Decision means for the JPY
A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the JPY.
Higher than forecast
An actual above the consensus forecast is typically bullish for the JPY.
Lower than forecast
An actual below the consensus forecast is typically bearish for the JPY.
Release history
Every release of Bank of Japan Rate Decision: actual vs forecast and the beat/miss outcome. Click a date for the full read of that release.
| Release | Actual | Forecast | Previous | Outcome |
|---|---|---|---|---|
| Jun 16, 2026 | 1.00% | 1.0% | 0.75% | inline |
| Apr 28, 2026 | 0.75% | 0.75% | 0.75% | inline |
| Mar 19, 2026 | 0.75% | 0.75% | 0.75% | inline |
| Oct 30, 2025 | 0.5% | 0.5% | 0.5% | inline |
| Sep 19, 2025 | 0.5% | 0.5% | 0.5% | inline |
| Jul 31, 2025 | 0.5% | 0.5% | 0.5% | inline |
| Jun 17, 2025 | 0.5% | 0.5% | 0.5% | inline |
| May 1, 2025 | 0.5% | 0.5% | 0.5% | inline |
| Mar 19, 2025 | 0.5% | 0.5% | 0.5% | inline |
| Jan 24, 2025 | 0.5% | 0.5% | 0.25% | inline |
| Dec 19, 2024 | 0.25% | 0.25% | 0.25% | inline |
| Oct 31, 2024 | 0.25% | 0.25% | 0.25% | inline |
| Sep 20, 2024 | 0.25% | 0.25% | 0.25% | inline |
| Jul 31, 2024 | 0.25% | 0.1% | 0.1% | above |
| Jun 14, 2024 | 0.1% | 0.1% | 0.1% | inline |
| Apr 26, 2024 | 0.1% | 0.1% | 0.1% | inline |
| Mar 19, 2024 | 0.1% | 0.1% | -0.1% | inline |
| Jan 23, 2024 | -0.1% | -0.1% | -0.1% | inline |
| Dec 19, 2023 | -0.1% | -0.1% | -0.1% | inline |
| Oct 31, 2023 | -0.1% | -0.1% | -0.1% | inline |
| Sep 22, 2023 | -0.1% | -0.1% | -0.1% | inline |
| Jul 28, 2023 | -0.1% | -0.1% | -0.1% | inline |
| Jun 16, 2023 | -0.1% | -0.1% | -0.1% | inline |
| Apr 28, 2023 | -0.1% | -0.1% | -0.1% | inline |
| Mar 10, 2023 | -0.1% | -0.1% | -0.1% | inline |
| Jan 18, 2023 | -0.1% | -0.1% | -0.1% | inline |
| Dec 20, 2022 | -0.1% | -0.1% | -0.1% | inline |
| Oct 28, 2022 | -0.1% | -0.1% | -0.1% | inline |
| Sep 22, 2022 | -0.1% | -0.1% | -0.1% | inline |
| Jul 21, 2022 | -0.1% | -0.1% | -0.1% | inline |
| Jun 17, 2022 | -0.1% | -0.1% | -0.1% | inline |
| Apr 28, 2022 | -0.1% | -0.1% | -0.1% | inline |
| Mar 18, 2022 | -0.1% | -0.1% | -0.1% | inline |
| Jan 18, 2022 | -0.1% | -0.1% | -0.1% | inline |
| Dec 17, 2021 | -0.1% | -0.1% | -0.1% | inline |
| Oct 28, 2021 | -0.1% | -0.1% | -0.1% | inline |
Frequently asked questions
- What is Bank of Japan Rate Decision?
- This is the Bank of Japan's decision on interest rates. For decades Japan kept rates near zero to fight falling prices, so the big question at each meeting is how far and how fast it will move away from that. The decision comes with updated forecasts and a press conference, which often matter more than the move itself.
- What was the latest Bank of Japan Rate Decision reading?
- The most recent release (Jun 16, 2026) came in at 1.00%, versus a forecast of 1.0% and a previous 0.75% — in line with expectations.
- When is the next Bank of Japan Rate Decision?
- The next Bank of Japan Rate Decision is scheduled for Jul 31, 2026. It is released 8 times per year.
- What happens to the JPY if Bank of Japan Rate Decision is higher than expected?
- An actual reading above the consensus forecast is typically bullish for the JPY, while a reading below forecast is bearish for the JPY. A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the JPY.
- How does Bank of Japan Rate Decision affect the JPY?
- Higher rates reward holding the yen, so any step up, or a hint of one, tends to lift it, while staying easy keeps it weak. What makes Japan different is that the Bank will only raise rates once it is convinced that pay and prices will keep rising together, so the spring wage negotiations (known as the Shunto) are the single biggest clue to its next move. The yen has two other faces to hold in mind: it is a safe haven that strengthens when markets panic, and it is the currency people borrow cheaply to buy higher-yielding ones, so a surprise hike can force those trades to unwind and snap the yen sharply higher. Because the yen also weakens steadily when Japanese rates stay far below others, the finance ministry sometimes steps into the market to slow a sharp fall.