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Interest Rate Announcement

The policy boards of a country's central bank get together every 4-6 weeks, or sometimes every quarter (Switzerland) to decide on the country's base interest rate. The central bank's role is to limit inflation, while also maintaining stable economic growth. To heed of inflation, a central bank will raise rates; and during times of poor economic growth, the bank will work to lowers rates in order to stimulate growth.

Main Indicator: BOJ Interest Rate Statement

Most Recent Release

February
17th, 2010

Actual

Forecast

Revised Form

0.1%

N/A

Provided by: Bank of Japan
Official Release: Statement (PDF)

Next Release Date: March 16th 2010, 23:00 EST

Table of Past Data

	6/15	7/15	8/10	9/16	10/13	10/30	11/19	12/17	1/25	2/17

Actual	0.10%	0.10%	0.10%	0.10%	0.10%	0.10%	0.10%	0.10%	0.10%	0.1%
Forecast	0.10%	0.10%	0.10%	.10%	0.10%	0.10%	0.10%	0.10%	0.10%	0.1%
Previous	0.10%	0.10%	0.10%	.10%	.10%	0.10%	0.10%	0.10%	0.10%	0.1%
Revised From	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Past Releases

January
25th, 2010

Actual

Forecast

Revised Form

0.10%

N/A

Provided by: Bank of Japan
Official Release: Statement (PDF)

December
17th, 2009

Actual

Forecast

Revised Form

0.10%

N/A

November
19th, 2009

Actual

Forecast

Revised Form

0.10%

N/A

Provided by: Bank of Japan
Official Release: Statement (PDF)

October
30th, 2009

Actual

Forecast

Revised Form

0.10%

N/A

Provided by: Bank of Japan
Previous Release: Statement (PDF)

October
13th, 2009

Actual

Forecast

Revised Form

0.10%

.10%

N/A

Provided by: Bank of Japan
Official Release: Statement (PDF)

Though the economy is showing signs of life, and BOJ Governor Masaaki Shirakawa said companies are finding it easier to get funding, the Bank did not signal an end to its credit-easing programs in today's meeting. Some analysts had expected them to. However, it seems that by year's end the programs will be unwound. The statement said that Japan's economy has started to "pick up."

From the Release: "Public investment has been increasing, and exports and production have also been rising against a backdrop of progress in inventory adjustments both at home and abroad as well as a recovery in overseas economies, especially emerging economies. In these circumstances, business sentiment, especially at large manufacturing firms, is showing some improvement. The decline in business fixed investment, which mainly reflects weak corporate profits, has been moderating. Private consumption, while there have been some signs of a pick-up mainly attributable to the effects of various policy measures, remains generally weak amid the severe employment and income situation. Meanwhile, the financial environment, with some lingering severity, is increasingly showing signs of improvement. The year-on-year rate of decline in the CPI (excluding fresh food) has accelerated mainly due to the prices of petroleum products, which are lower than their high levels a year ago, in addition to the substantial slack persisting in the economy as a whole."

September
16th, 2009

Actual

Forecast

Revised Form

0.10%

.10%

N/A

Provided by: Bank of Japan
Official Release: Statement (PDF)

The Bank of Japan upgraded its assessment of the economy, saying that the economy is "showing signs of recovery", from its assessment last month that the economy "stopped worsening." However policy makers are concerned about the strength of the recovery. Bank of Japan Governor Masaaki Shirakawa told reporters that while the government has helped to stimulate domestic demand with tax cuts, that the bank's policy makers are concerned about the "strength of private final demand after those effects fade." Another concern is the appreciating Yen, which makes imports cheaper and stokes deflation, a problem that will keep interest rates at their current low levels for longer than other major economies.

August
10th, 2009

Actual

Forecast

Revised Form

0.10%

N/A

Provided by: Bank of Japan
This Release: Statement (PDF)

The BoJ kept the overnight rate at 0.1% as expected. The bank sees economic improvements in coming months and expects this to prevent a deepening deflationary period. It also has not mentioned any deviation from its current stance at 0.1% interest rate.

July
15th, 2009

Actual

Forecast

Revised Form

0.10%

N/A

Provided by: Bank of Japan
Official Release: Statement (PDF)

The Bank of Japan kept its key interest rate unchanged at 0.10%, as forecast, and signaled it may end crediteasing programs. “We decided to extend the measures by three months this time, rather than six months, because financial conditions are improving and we expect this improvement to continue,” Governor Masaaki Shirakawa said, adding that “if this situation develops further, we will end” the programs.

June
15th, 2009

Actual

Forecast

Revised Form

0.10%

N/A

Provided by: Bank of Japan
Previous Release: Statement (PDF)