Bank of Japan Policy Interest Rate (Discount Rate)
IRSTCI01JPM156NLagging IndicatorBroad Indicator
Latest Value
0.73%
Date: 2026-05-01
Data Count
491recordsData from FRED source
Basic Info
Country: Japan
Frequency: Monthly
Source: FRED
Trend Chart (Line)
Historical Trend Data
| Date | Value (%) | MoM (Change) | YoY (Change) | 3-Month MA |
|---|---|---|---|---|
| 2026-05-01 | 0.73 | 0.00% | +52.41% | 0.73 |
| 2026-04-01 | 0.73 | -0.14% | +52.41% | 0.73 |
| 2026-03-01 | 0.73 | 0.00% | +52.62% | 0.73 |
| 2026-02-01 | 0.73 | 0.00% | +52.30% | 0.67 |
| 2026-01-01 | 0.73 | +30.70% | +148.46% | 0.59 |
| 2025-12-01 | 0.56 | +16.53% | +145.37% | 0.5 |
| 2025-11-01 | 0.48 | +0.21% | +110.57% | 0.48 |
| 2025-10-01 | 0.48 | 0.00% | +110.13% | 0.48 |
| 2025-09-01 | 0.48 | 0.00% | +110.13% | 0.48 |
| 2025-08-01 | 0.48 | -0.21% | +110.13% | 0.48 |
| 2025-07-01 | 0.48 | +0.21% | +512.82% | 0.48 |
| 2025-06-01 | 0.48 | 0.00% | +519.48% | 0.48 |
| 2025-05-01 | 0.48 | 0.00% | +519.48% | 0.48 |
| 2025-04-01 | 0.48 | 0.00% | +519.48% | 0.48 |
| 2025-03-01 | 0.48 | -0.21% | +2068.18% | 0.42 |
| 2025-02-01 | 0.48 | +63.14% | -8066.67% | 0.33 |
| 2025-01-01 | 0.29 | +29.07% | -2192.86% | 0.25 |
| 2024-12-01 | 0.23 | 0.00% | -1991.67% | 0.23 |
| 2024-11-01 | 0.23 | 0.00% | -1613.33% | 0.23 |
| 2024-10-01 | 0.23 | 0.00% | -1235.00% | 0.23 |
| 2024-09-01 | 0.23 | 0.00% | -520.37% | 0.18 |
| 2024-08-01 | 0.23 | +191.03% | -454.69% | 0.13 |
| 2024-07-01 | 0.08 | +1.30% | -269.57% | 0.08 |
| 2024-06-01 | 0.08 | 0.00% | -216.67% | 0.08 |
| 2024-05-01 | 0.08 | 0.00% | -250.98% | 0.06 |
| 2024-04-01 | 0.08 | +250.00% | -613.33% | 0.03 |
| 2024-03-01 | 0.02 | -466.67% | -229.41% | 0 |
| 2024-02-01 | -0.01 | -57.14% | -68.42% | -0.01 |
| 2024-01-01 | -0.01 | +16.67% | -30.00% | -0.01 |
| 2023-12-01 | -0.01 | -20.00% | -82.86% | -0.02 |
| 2023-11-01 | -0.02 | -25.00% | -77.61% | -0.03 |
| 2023-10-01 | -0.02 | -62.96% | -60.00% | -0.05 |
| 2023-09-01 | -0.05 | -15.63% | +10.20% | -0.05 |
| 2023-08-01 | -0.06 | +39.13% | +255.56% | -0.06 |
| 2023-07-01 | -0.05 | -30.30% | +283.33% | -0.05 |
| 2023-06-01 | -0.07 | +29.41% | +73.68% | -0.04 |
| 2023-05-01 | -0.05 | +240.00% | +183.33% | -0.03 |
| 2023-04-01 | -0.02 | -11.76% | +25.00% | -0.02 |
| 2023-03-01 | -0.02 | -10.53% | +112.50% | -0.02 |
| 2023-02-01 | -0.02 | -5.00% | +5.56% | -0.04 |
| 2023-01-01 | -0.02 | -71.43% | 0.00% | -0.05 |
| 2022-12-01 | -0.07 | +4.48% | +169.23% | -0.06 |
| 2022-11-01 | -0.07 | +34.00% | +71.79% | -0.06 |
| 2022-10-01 | -0.05 | +2.04% | +85.19% | -0.04 |
| 2022-09-01 | -0.05 | +172.22% | +122.73% | -0.03 |
| 2022-08-01 | -0.02 | +50.00% | -47.06% | -0.02 |
| 2022-07-01 | -0.01 | -68.42% | -66.67% | -0.02 |
| 2022-06-01 | -0.04 | +111.11% | +31.03% | -0.02 |
| 2022-05-01 | -0.02 | +50.00% | +5.88% | -0.01 |
| 2022-04-01 | -0.01 | +50.00% | 0.00% | -0.01 |
| 2022-03-01 | -0.01 | -55.56% | -52.94% | -0.02 |
| 2022-02-01 | -0.02 | -10.00% | +12.50% | -0.02 |
| 2022-01-01 | -0.02 | -23.08% | +17.65% | -0.03 |
| 2021-12-01 | -0.03 | -33.33% | 0.00% | -0.03 |
| 2021-11-01 | -0.04 | +44.44% | +21.87% | -0.03 |
| 2021-10-01 | -0.03 | +22.73% | +35.00% | -0.03 |
| 2021-09-01 | -0.02 | -35.29% | -59.26% | -0.03 |
| 2021-08-01 | -0.03 | -5.56% | -2.86% | -0.03 |
| 2021-07-01 | -0.04 | +24.14% | +28.57% | -0.03 |
| 2021-06-01 | -0.03 | +70.59% | -39.58% | -0.02 |
About Indicator
Explanation
What is BOJ Policy Rate (MUTCALM)?(MUTCALM)?
The policy interest rate set by the Bank of Japan (BOJ). It represents the historical discount rate used to guide monetary policy.
Importance
HighView Details
Deep Dive
Reflects the BOJ's stance. The wide interest rate differential between the US (Fed) and Japan (BOJ) has been the major driver of Yen depreciation. BOJ rate hikes narrow this gap, leading to Yen appreciation.
Last Fetched: 6/16/2026, 7:09:25 PM