Short-term policy interest rate in Japan 2016-2024

The central bank policy rate in Japan stood at 0.25 percent in November 2024. In March 2024, the Bank of Japan raised short-term interest rates for the first time in 17 years, ending its negative interest rate policy. Since August 2024, the central bank encourages the uncollaterized overnight call rate to remain at 0.25 percent.In 2016, the Bank of Japan had introduced a policy of quantitative and qualitative monetary easing (QQE) with yield curve control, one component of which included controlling short-term and long-term interest rates through market operations.

日本央行于2024年11月将政策利率维持在0.25个百分点。2024年3月，日本银行首次在17年后上调了短期利率，结束了其负利率政策。自2024年8月起，央行鼓励无担保隔夜拆借利率保持在0.25个百分点。2016年，日本银行推出了包含通过市场操作控制短期和长期利率在内的量化及质化货币宽松政策（QQE）与收益率曲线控制措施。