Bank of Japan
Call rate target, 1.00% since 17 June 2026.
as of 2026-09-08 ยท own history joined to BIS ยท 194 decisions since 1882
Every decision
Newest first; a shaded row marks a change of instrument.
| Date | Level | Change | Instrument |
|---|---|---|---|
| 2026-06-17 | 1.00% | +0.25% | Call rate target |
| 2025-12-22 | 0.75% | +0.25% | Call rate target |
| 2025-01-27 | 0.50% | +0.25% | Call rate target |
| 2024-08-01 | 0.25% | +0.20% | Call rate target |
| 2024-03-21 | 0.05% | +0.15% | Call rate target |
| 2016-09-21 | -0.10% | โ0.15% | Call rate target |
| 2010-10-05 | 0.05% | โ0.05% | Call rate target |
| 2008-12-19 | 0.10% | โ0.20% | Call rate target |
| 2008-10-31 | 0.30% | โ0.20% | Call rate target |
| 2007-02-21 | 0.50% | +0.25% | Call rate target |
| 2006-07-14 | 0.25% | +0.25% | Call rate target |
| 2006-03-09 | 0.00% | โ0.15% | Call rate target |
| 2001-02-28 | 0.15% | โ0.10% | Call rate target |
| 1998-09-09 | 0.25% | โ0.25% | Call rate target |
| 1995-09-09: The discount rate stopped moving with monetary policy after the 1995 easing cycle; from here the level is BIS Japan daily (uncollateralized overnight call rate target, later the BOJ policy rate under QQE/YCC). | |||
| 1995-09-08 | 0.50% | โ0.50% | Official discount rate |
| 1995-04-14 | 1.00% | โ0.75% | Official discount rate |
| 1993-09-21 | 1.75% | โ0.75% | Official discount rate |
| 1993-02-04 | 2.50% | โ0.75% | Official discount rate |
| 1992-07-27 | 3.25% | โ0.50% | Official discount rate |
| 1992-04-01 | 3.75% | โ0.75% | Official discount rate |
| 1991-12-30 | 4.50% | โ0.50% | Official discount rate |
| 1991-11-14 | 5.00% | โ0.50% | Official discount rate |
| 1991-07-01 | 5.50% | โ0.50% | Official discount rate |
| 1990-08-30 | 6.00% | +0.75% | Official discount rate |
| 1990-03-20 | 5.25% | +1.00% | Official discount rate |
| 1989-12-25 | 4.25% | +0.50% | Official discount rate |
| 1989-10-11 | 3.75% | +0.50% | Official discount rate |
| 1989-05-31 | 3.25% | +0.75% | Official discount rate |
| 1987-02-23 | 2.50% | โ0.50% | Official discount rate |
| 1986-11-01 | 3.00% | โ0.50% | Official discount rate |
| 1986-04-21 | 3.50% | โ0.50% | Official discount rate |
| 1986-03-10 | 4.00% | โ0.50% | Official discount rate |
| 1986-01-30 | 4.50% | โ0.50% | Official discount rate |
| 1983-10-22 | 5.00% | โ0.50% | Official discount rate |
| 1981-12-11 | 5.50% | โ0.75% | Official discount rate |
| 1981-03-18 | 6.25% | โ1.00% | Official discount rate |
| 1980-11-06 | 7.25% | โ1.00% | Official discount rate |
| 1980-08-20 | 8.25% | โ0.75% | Official discount rate |
| 1980-03-19 | 9.00% | +1.75% | Official discount rate |
| 1980-02-19 | 7.25% | +1.00% | Official discount rate |
| 1979-11-02 | 6.25% | +1.00% | Official discount rate |
| 1979-07-24 | 5.25% | +1.00% | Official discount rate |
| 1979-04-17 | 4.25% | +0.75% | Official discount rate |
| 1978-03-16 | 3.50% | โ0.75% | Official discount rate |
| 1977-09-05 | 4.25% | โ0.75% | Official discount rate |
| 1977-04-19 | 5.00% | โ1.00% | Official discount rate |
| 1977-03-12 | 6.00% | โ0.50% | Official discount rate |
| 1975-10-24 | 6.50% | โ1.00% | Official discount rate |
| 1975-08-13 | 7.50% | โ0.50% | Official discount rate |
| 1975-06-07 | 8.00% | โ0.50% | Official discount rate |
| 1975-04-16 | 8.50% | โ0.50% | Official discount rate |
| 1973-12-22 | 9.00% | +2.00% | Official discount rate |
| 1973-08-29 | 7.00% | +1.00% | Official discount rate |
| 1973-07-02 | 6.00% | +0.50% | Official discount rate |
| 1973-05-30 | 5.50% | +0.50% | Official discount rate |
| 1973-04-02 | 5.00% | +0.75% | Official discount rate |
| 1972-06-24 | 4.25% | โ0.50% | Official discount rate |
| 1971-12-29 | 4.75% | โ0.50% | Official discount rate |
| 1971-07-28 | 5.25% | โ0.25% | Official discount rate |
| 1971-05-08 | 5.50% | โ0.25% | Official discount rate |
| 1971-01-20 | 5.75% | โ0.25% | Official discount rate |
| 1970-10-28 | 6.00% | โ0.25% | Official discount rate |
| 1969-09-01 | 6.25% | โ | Official discount rate |
| 1969-09-01: Gap between two of the Bank's own release tables, 1968-08-08 to 1969-08-31 (not published in either). | |||
| 1968-08-07 | 5.84% | โ0.37% | Official discount rate |
| 1968-01-06 | 6.21% | +0.37% | Official discount rate |
| 1967-09-01 | 5.84% | +0.36% | Official discount rate |
| 1965-06-26 | 5.48% | โ0.36% | Official discount rate |
| 1965-04-03 | 5.84% | โ0.37% | Official discount rate |
| 1965-01-09 | 6.21% | โ0.36% | Official discount rate |
| 1964-03-18 | 6.57% | +0.73% | Official discount rate |
| 1963-04-20 | 5.84% | โ0.37% | Official discount rate |
| 1963-03-20 | 6.21% | โ0.36% | Official discount rate |
| 1962-11-27 | 6.57% | โ0.37% | Official discount rate |
| 1962-10-27 | 6.94% | โ0.36% | Official discount rate |
| 1961-09-29 | 7.30% | +0.36% | Official discount rate |
| 1961-07-22 | 6.94% | +0.37% | Official discount rate |
| 1961-01-26 | 6.57% | โ0.37% | Official discount rate |
| 1960-08-24 | 6.94% | โ0.36% | Official discount rate |
| 1959-12-02 | 7.30% | +0.36% | Official discount rate |
| 1959-02-19 | 6.94% | โ0.36% | Official discount rate |
| 1958-09-05 | 7.30% | โ0.37% | Official discount rate |
| 1958-06-18 | 7.67% | โ0.73% | Official discount rate |
| 1957-05-08 | 8.40% | +0.73% | Official discount rate |
| 1957-03-20 | 7.67% | +0.37% | Official discount rate |
| 1955-08-10 | 7.30% | โ | Official discount rate |
| 1955-08-10: Gap in the Bank's own published discount-rate table, 1936-04-08 to 1955-08-09 (wartime and occupation-era rates are not published in this series); resumes here from the Bank's own postwar table. | |||
| 1936-04-07 | 3.29% | โ0.36% | Official discount rate |
| 1933-07-03 | 3.65% | โ0.73% | Official discount rate |
| 1932-08-18 | 4.38% | โ0.73% | Official discount rate |
| 1932-06-08 | 5.11% | โ0.73% | Official discount rate |
| 1932-03-12 | 5.84% | โ0.73% | Official discount rate |
| 1931-11-05 | 6.57% | +0.73% | Official discount rate |
| 1931-10-06 | 5.84% | +0.73% | Official discount rate |
| 1930-10-07 | 5.11% | โ0.37% | Official discount rate |
| 1927-10-10 | 5.48% | โ0.36% | Official discount rate |
| 1927-03-09 | 5.84% | โ0.73% | Official discount rate |
| 1926-10-04 | 6.57% | โ0.73% | Official discount rate |
| 1925-04-15 | 7.30% | โ0.73% | Official discount rate |
| 1919-11-19 | 8.03% | +0.73% | Official discount rate |
| 1919-10-06 | 7.30% | +0.73% | Official discount rate |
| 1918-11-25 | 6.57% | +0.73% | Official discount rate |
| 1918-09-16 | 5.84% | +0.73% | Official discount rate |
| 1917-03-16 | 5.11% | โ0.73% | Official discount rate |
| 1916-07-05 | 5.84% | โ0.73% | Official discount rate |
| 1916-04-17 | 6.57% | โ0.73% | Official discount rate |
| 1914-07-06 | 7.30% | +0.73% | Official discount rate |
| 1912-11-14 | 6.57% | +0.36% | Official discount rate |
| 1912-10-02 | 6.21% | +0.37% | Official discount rate |
| 1912-02-07 | 5.84% | +0.36% | Official discount rate |
| 1911-09-27 | 5.48% | +0.73% | Official discount rate |
| 1910-03-07 | 4.75% | โ0.36% | Official discount rate |
| 1910-01-11 | 5.11% | โ0.73% | Official discount rate |
| 1909-08-13 | 5.84% | โ0.73% | Official discount rate |
| 1909-05-04 | 6.57% | โ0.73% | Official discount rate |
| 1907-12-04 | 7.30% | +0.73% | Official discount rate |
| 1906-05-01 | 6.57% | โ0.73% | Official discount rate |
| 1906-03-13 | 7.30% | โ0.73% | Official discount rate |
| 1905-06-16 | 8.03% | +0.73% | Official discount rate |
| 1904-12-19 | 7.30% | +0.73% | Official discount rate |
| 1904-07-02 | 6.57% | +0.73% | Official discount rate |
| 1903-03-18 | 5.84% | โ0.37% | Official discount rate |
| 1902-12-09 | 6.21% | โ0.36% | Official discount rate |
| 1902-10-03 | 6.57% | โ0.73% | Official discount rate |
| 1902-06-27 | 7.30% | โ0.73% | Official discount rate |
| 1902-03-19 | 8.03% | โ0.73% | Official discount rate |
| 1900-07-18 | 8.76% | +0.36% | Official discount rate |
| 1900-04-18 | 8.40% | +0.73% | Official discount rate |
| 1900-03-20 | 7.67% | +0.73% | Official discount rate |
| 1899-11-27 | 6.94% | +0.73% | Official discount rate |
| 1899-11-10 | 6.21% | +0.37% | Official discount rate |
| 1899-07-28 | 5.84% | โ0.37% | Official discount rate |
| 1899-04-12 | 6.21% | โ0.36% | Official discount rate |
| 1899-03-11 | 6.57% | โ0.37% | Official discount rate |
| 1899-02-10 | 6.94% | โ0.36% | Official discount rate |
| 1898-12-07 | 7.30% | โ0.73% | Official discount rate |
| 1898-10-08 | 8.03% | โ0.73% | Official discount rate |
| 1898-03-14 | 8.76% | +0.36% | Official discount rate |
| 1898-02-09 | 8.40% | +0.37% | Official discount rate |
| 1897-10-23 | 8.03% | +0.36% | Official discount rate |
| 1897-08-11 | 7.67% | +0.37% | Official discount rate |
| 1896-09-07 | 7.30% | +0.36% | Official discount rate |
| 1895-07-12 | 6.94% | โ0.73% | Official discount rate |
| 1894-07-26 | 7.67% | +0.37% | Official discount rate |
| 1894-06-19 | 7.30% | +0.36% | Official discount rate |
| 1894-02-08 | 6.94% | +0.37% | Official discount rate |
| 1894-01-22 | 6.57% | +0.36% | Official discount rate |
| 1893-11-21 | 6.21% | +0.73% | Official discount rate |
| 1893-09-02 | 5.48% | +0.73% | Official discount rate |
| 1893-05-31 | 4.75% | โ0.36% | Official discount rate |
| 1893-03-23 | 5.11% | โ0.73% | Official discount rate |
| 1892-11-24 | 5.84% | โ0.37% | Official discount rate |
| 1891-07-21 | 6.21% | โ0.36% | Official discount rate |
| 1891-05-06 | 6.57% | โ0.73% | Official discount rate |
| 1891-03-02 | 7.30% | +0.73% | Official discount rate |
| 1890-10-20 | 6.57% | +0.36% | Official discount rate |
| 1890-06-14 | 6.21% | โ0.73% | Official discount rate |
| 1889-09-03 | 6.94% | +0.19% | Official discount rate |
| 1889-08-19 | 6.75% | +0.18% | Official discount rate |
| 1889-06-01 | 6.57% | +0.18% | Official discount rate |
| 1889-05-08 | 6.39% | +0.37% | Official discount rate |
| 1889-02-19 | 6.02% | โ0.37% | Official discount rate |
| 1889-02-01 | 6.39% | โ0.18% | Official discount rate |
| 1889-01-04 | 6.57% | โ0.18% | Official discount rate |
| 1888-09-29 | 6.75% | +0.18% | Official discount rate |
| 1888-08-24 | 6.57% | +0.36% | Official discount rate |
| 1888-06-02 | 6.21% | +0.37% | Official discount rate |
| 1888-05-11 | 5.84% | +0.36% | Official discount rate |
| 1888-03-10 | 5.48% | โ0.36% | Official discount rate |
| 1888-01-04 | 5.84% | +0.36% | Official discount rate |
| 1887-01-24 | 5.48% | โ0.36% | Official discount rate |
| 1886-10-22 | 5.84% | +0.36% | Official discount rate |
| 1886-10-14 | 5.48% | +0.55% | Official discount rate |
| 1886-06-22 | 4.93% | โ0.55% | Official discount rate |
| 1886-05-28 | 5.48% | โ0.36% | Official discount rate |
| 1886-05-03 | 5.84% | โ0.37% | Official discount rate |
| 1886-04-09 | 6.21% | โ0.36% | Official discount rate |
| 1886-03-06 | 6.57% | โ0.37% | Official discount rate |
| 1885-08-25 | 6.94% | โ0.36% | Official discount rate |
| 1885-08-06 | 7.30% | โ0.73% | Official discount rate |
| 1885-05-09 | 8.03% | โ0.37% | Official discount rate |
| 1885-04-17 | 8.40% | โ0.36% | Official discount rate |
| 1885-04-02 | 8.76% | โ0.73% | Official discount rate |
| 1885-02-01 | 9.49% | +0.73% | Official discount rate |
| 1884-11-19 | 8.76% | +0.73% | Official discount rate |
| 1884-08-12 | 8.03% | +0.36% | Official discount rate |
| 1884-07-18 | 7.67% | +0.37% | Official discount rate |
| 1884-07-03 | 7.30% | +0.73% | Official discount rate |
| 1884-04-26 | 6.57% | โ0.73% | Official discount rate |
| 1883-12-10 | 7.30% | โ0.37% | Official discount rate |
| 1883-11-29 | 7.67% | โ0.36% | Official discount rate |
| 1883-10-02 | 8.03% | โ1.83% | Official discount rate |
| 1883-04-01 | 9.86% | +1.10% | Official discount rate |
| 1883-03-14 | 8.76% | โ0.73% | Official discount rate |
| 1882-11-21 | 9.49% | โ0.73% | Official discount rate |
| 1882-10-11 | 10.22% | โ | Official discount rate |
Show all 197 decisions
1995-09-09: The discount rate stopped moving with monetary policy after the 1995 easing cycle; from here the level is BIS Japan daily (uncollateralized overnight call rate target, later the BOJ policy rate under QQE/YCC).
1969-09-01: Gap between two of the Bank's own release tables, 1968-08-08 to 1969-08-31 (not published in either).
1955-08-10: Gap in the Bank's own published discount-rate table, 1936-04-08 to 1955-08-09 (wartime and occupation-era rates are not published in this series); resumes here from the Bank's own postwar table.
Where these numbers come from
Own official/basic discount rate change tables from the Bank's own releases, 1882-10-11 to 1995-09-08 (with two undocumented gaps: 1936-04-08 to 1955-08-09, and 1968-08-08 to 1969-08-31, neither bridged by BIS since BIS Japan does not track the discount rate in those windows either). From 1995-09-09, once the discount rate stopped moving with monetary policy, the level is BIS Japan daily (the uncollateralized overnight call rate target, later the BOJ policy rate). BIS Japan daily agrees on 14 of 14 overlapping change dates checked from the splice (0.0% disagreement, necessarily 0 since the tail is BIS-derived).