The next Bank of Japan (BoJ) interest rate decision is due on Thursday, July 31, 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, stabilising 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 headline inflation and the impact from US tariffs later in the year.
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 July 30–31, 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) left its policy rate unchanged at 0.5% on June 17, 2025, signalling a gradual and cautious exit from ultra-loose policy amid persistent inflation and global uncertainty.
Analysts largely believe the next rate hike could come by year-end or early 2026, though many now expect it more likely in the first quarter of 2026 due to risks from US tariffs and economic headwinds.
In short: The BoJ is signalling readiness for a future rate increase, but most analysts see the first firm hike delayed until late 2025 or early 2026.
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?
On June 17, 2025, the Bank of Japan (BoJ) held its policy rate steady at 0.5%, signalling a measured and cautious shift away from its longstanding ultra-loose monetary stance in the face of ongoing inflation and global economic uncertainty.
- Inflation outlook - While headline consumer inflation remains elevated (~3%), underlying inflation—driven by domestic demand and wages—has not yet reached the 2% target, though it is expected to eventually rise if supported by sustained wage growth.
- Growth and trade risks - The BoJ has downgraded its growth forecasts, citing threats from U.S. tariffs, rising oil and food prices, and a weak yen, but continues to foresee a moderate recovery once global trade stabilises.
- Policy path guidance - Governor Ueda emphasised a data-driven and flexible approach: rate hikes will depend on whether underlying inflation sustainably approaches 2%, with timing highly uncertain amid global risks.
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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