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BOJ Monetary Policy Navigator

BoJ raises policy rate to 1.0%, around lower bound of its neutral rate estimate

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BoJ raises policy rate to 1.0%, around lower bound of its neutral rate estimate

Key points
  • BoJ votes by 7-1 majority to raise policy rate to 1.0%; Governor Ueda absent

  • With "risk of a significant slowdown in the economy...decreased compared with a while ago," BoJ flagged upside risk to underlying CPI inflation

  • Decision to stop reducing JGB purchases in April 2027, skip "interim assessment" appears somewhat dovish

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