BoJ overnight uncollateralized rate | Bank of Japan interest rate

Chart for the main interest rate of the Bank of Japan (BoJ). Overnight rate over a long period for Japan.

BoJ overnight uncollateralized rate | Bank of Japan interest rate
Please find below a chart for the interest rate of the Bank of Japan (BoJ) . The chart begins in 1998.

The bank conducts its monetary policy by raising or lowering the target f overnight uncollateralized rate in the interbank market in Japan.

The BoJ has for mandate to maintain price stability. BoJ’s definition of price stability is a rise in prices between 0% and 2% year-on-year over the medium-term (index: Consumer Price Index). The majority of the BoJ’s Gouverning Council members has a target of 1% YoY for inflation over the medium-term.

From 2001 to 2006, then again since 2009, the interest rate is lowered at or close to zero and the BoJ’s adopted quantitative easing measures. The Japanese economy is facing deflation fro more than 15 years. In the end of 2010, the BoJ set for the first time a target range for the interest rate (0%-0.1%).

BoJ interest rate | Bank of Japan overnight uncollateralized rate

BoJ interest rate
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Friday, February 4th 2011

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