The next Bank of Japan (BoJ) interest rate decision is due on Tuesday, June 17, 2025, between approximately 02:45 to 04:00 UTC.
The Bank of Japan (BoJ) announces its interest rate decisions eight times a year during its Monetary Policy Meetings (MPMs), held approximately every six weeks. At each meeting, the BoJ determines whether to raise (rate hike), lower (rate cut), or maintain the current interest rate, with each decision aimed at achieving specific economic objectives, such as controlling inflation, stabilizing the yen, or supporting economic growth.
What is the current BoJ interest rate?
The Bank of Japan's (BoJ) current key short-term policy interest rate is 0.5%.
This rate was established during the BoJ's meeting on January 24, 2025, when the central bank raised the rate from 0.25% to 0.50% (marking the highest level in 17 years), and was kept unchanged at the latest meeting on May 1, 2025 – citing uncertainties stemming from global trade tensions and a cautious inflation outlook.
What date is the next Bank of Japan rate decision?
The Bank of Japan's next monetary policy meeting and subsequent rate decision are scheduled for June 16–17, 2025.
See below for the full list of the BoJ's scheduled monetary policy meetings for 2025:
- January 23–24
- March 18–19
- April 30 – May 1
- June 16–17
- July 30–31
- September 18–19
- October 29–30
- December 18–19
What time is the Japan interest rate decision?
The Bank of Japan (BoJ) typically announces its monetary policy decisions at the conclusion of its two-day Monetary Policy Meetings (MPMs). While the exact time of these announcements isn't fixed, they generally occur between 11:45–13:00 Japan Standard Time (JST) (02:45–04:00 Coordinated Universal Time (UTC)) on the second day of the meeting.
Please note that these times are approximate and can vary depending on the specifics of each meeting. For the most accurate information, it's advisable to monitor the BoJ's official website.
How often does the BoJ change interest rates?
The Bank of Japan (BoJ) has the ability to change interest rates at any of its scheduled monetary policy meetings, which are typically held eight times per year (approximately every six weeks).
However, the BoJ changes interest rates infrequently compared to other major central banks like the Federal Reserve (Fed) or the European Central Bank (ECB). Historically, the BoJ has kept rates ultra-low or negative for decades due to persistent deflation and sluggish economic growth–when the BoJ raised the rate from 0.25% to 0.50% on January 24, 2025, it marked the highest level in 17 years.
Read more about the Fed and the ECB's interest rate decisions here:
Will the Bank of Japan raise interest rates?
The Bank of Japan (BoJ) held its interest rate at 0.5% during its most recent meeting on May 1, 2025, though it is broadly anticipated to raise rates once economic conditions allow.
While the BoJ is not immediately raising interest rates, it remains open to future hikes contingent on economic indicators such as inflation, wage growth, and global trade developments. The central bank emphasises a data-driven and flexible approach, balancing the need to support economic growth with the goal of achieving price stability.
With Governor Kazuo Ueda stating, "It's hard to judge now when we can see the likelihood of our scenario being achieved," he said. "As such, we would like to take a flexible approach in our policy response."
However, in an April Reuters poll, analysts predicted the BoJ would keep rates unchanged through June, with a slight majority anticipating a 25-basis-point hike in the following quarter.
What time is the BoJ meeting released?
The Bank of Japan (BoJ) typically announces its interest rate decisions at the conclusion of its Monetary Policy Meetings. While the exact time of the announcement(s) are often not officially specified, such decisions are often released in the late morning or early afternoon, Japan Standard Time (JST). This would correspond to the early hours of the same day in Coordinated Universal Time (UTC), given the time difference.
However, the BoJ releases its Monetary Policy Meeting (MPM) Minutes, Outlook Report, and Summary of Opinions at specific times following their meetings:
- Outlook Report: "The Bank's View" section is published immediately after the relevant MPM (with the full text available the next business day at 14:00 JST).
- Summary of Opinions: Released at 08:50 JST (approximately six business days after the MPM).
- MPM Minutes: Released at 08:50 JST (typically about two months after the corresponding meeting).
Bank of Japan release schedule 2025
What is the Bank of Japan forecast?
At its May 1, 2025 meeting, the Bank of Japan (BoJ) held rates steady and cut growth forecasts due to U.S. tariff uncertainties but maintained that inflation remains on track toward its 2% target, with Governor Ueda signaling flexibility while expecting wage growth and inflation to eventually support future rate hikes.
The Bank of Japan (BoJ) kept interest rates steady and sharply cut its growth forecasts at its latest meeting on May 1, 2025, suggesting uncertainty surrounding U.S. tariffs and the hit to exports could keep policy in a holding pattern for some time.
However, the central bank projected inflation would stay roughly on course to hit its 2% target in coming years, a sign that risks from U.S. tariffs could delay, but not derail, its plans to hike interest rates.
BOJ Governor Kazuo Ueda said the BOJ still expects conditions for further rate hikes to eventually fall into place.
"We'll enter a period in which both inflation and wage growth will likely slow somewhat. But we expect a positive cycle of rising wages and inflation to continue due to a severe labour shortage.”
"It's hard to judge now when we can see the likelihood of our scenario being achieved," he said. "As such, we would like to take a flexible approach in our policy response."
What is the effect when the Bank of Japan cuts interest rates?
When the Bank of Japan cuts interest rates, it weakens the yen, boosts exports, and encourages spending and investment, which can drive inflation and stock market gains. However, it also pressures banks, lowers savings returns, and may create asset bubbles, particularly in real estate.
What happens when the BoJ increases interest rates?
When the Bank of Japan (BoJ) increases interest rates, borrowing becomes more expensive, which slows consumer spending and business investment, helping to control inflation. However, it can also strengthen the yen, making exports less competitive, while pressuring stocks, real estate, and corporate profits due to higher financing costs.
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