Bank of Japan · Uncollateralized overnight call rate target
Japan · JPY · Policy rate
The Bank of Japan’s Uncollateralized overnight call rate target is 1.25 %, last changed on 24 Sep 2026 when it was raised by 25 bp from 1.00 %. The next scheduled decision is on .
1.25 %
- Last change
- raised +25 bp·announced 18 Sep 2026
- Previous rate
- 1.00 %
- Next decision
- Latest observation
- Source
- BIS
1.25 % ·
2 Nov 2021-0.10 – 1.25 %2 Nov 2026
Recent decisions
| Date | Rate | Change |
|---|---|---|
| announced 18 Sep 2026 | 1.25 % | +25 bp |
| 1.00 % | hold | |
| announced 16 Jun 2026 | 1.00 % | +25 bp |
| 0.75 % | hold | |
| 0.75 % | hold | |
| 0.75 % | hold | |
| announced 19 Dec 2025 | 0.75 % | +25 bp |
| 0.50 % | hold | |
| 0.50 % | hold |
Changes are dated by when they took effect; holds by the announcement day.
At a glance
- Economy
- Japan
- Currency
- JPY
- Type
- Policy rate
- Set by
- Bank of Japan
- History since
- 1946
- Changes in the last 12 months
- 3
Questions and answers
- What is the current Bank of Japan interest rate?
- The Bank of Japan’s Uncollateralized overnight call rate target is 1.25 %, last changed on 24 Sep 2026 when it was raised by 25 bp from 1.00 %.
- When did the Bank of Japan last change its rate?
- On 24 Sep 2026, when the Uncollateralized overnight call rate target was raised by 25 bp to 1.25 % from 1.00 %.
- What did the Bank of Japan decide at its last meeting?
- On 24 Sep 2026 it raised the Uncollateralized overnight call rate target by 25 bp to 1.25 %.
- When is the next Bank of Japan rate decision?
- The next scheduled announcement is on 18 Dec 2026.
Decisions by year since 2024
2026net +50 bp
| Date | Rate | Change |
|---|---|---|
| announced 18 Sep 2026 | 1.25 % | +25 bp |
| 1.00 % | hold | |
| announced 16 Jun 2026 | 1.00 % | +25 bp |
| 0.75 % | hold | |
| 0.75 % | hold | |
| 0.75 % | hold |
2025net +50 bp
| Date | Rate | Change |
|---|---|---|
| announced 19 Dec 2025 | 0.75 % | +25 bp |
| 0.50 % | hold | |
| 0.50 % | hold | |
| 0.50 % | hold | |
| 0.50 % | hold | |
| 0.50 % | hold | |
| 0.50 % | hold | |
| announced 24 Jan 2025 | 0.50 % | +25 bp |
2024net +35 bp
| Date | Rate | Change |
|---|---|---|
| 0.25 % | +20 bp | |
| 0.05 % | +15 bp |
Other rates in Asia
- China · People's Bank of China3.00 %
- Hong Kong SAR · Hong Kong Monetary Authority4.25 %
- India · Reserve Bank of India5.50 %
- Indonesia · Bank Indonesia5.75 %
- South Korea · Bank of Korea3.00 %
- Malaysia · Bank Negara Malaysia2.75 %
- Philippines · Bangko Sentral ng Pilipinas5.50 %
- Thailand · Bank of Thailand1.00 %
Source: BIS central bank policy rates. Latest observation 27 Oct 2026. Refreshed every 30 minutes.