Loading the economic calendar
Loading the economic calendar
The policy balance rate and asset-purchase settings decided by the Bank of Japan's Policy Board, with no fixed announcement time.
| Published by | Bank of Japan |
|---|---|
| Country | Japan |
| Currency affected | JPY |
| Release frequency | 8 times per year |
| Usual release time | 03:00 GMT (UTC+00:00) |
| Impact rating | High impact |
| Typical volatility | 80-200 pips on USD/JPY across the decision and press conference |
The BoJ Interest Rate Decision is released 8 times per year by Bank of Japan, usually at 03:00 GMT (UTC+00:00). These are the dates inside our calendar window.
Every release in the window has already been published. The next one falls outside the four-week demo calendar.
The yen is the funding leg of the global carry trade, so any shift in Japanese policy forces position unwinds worldwide.
The BoJ does not announce at a fixed minute, which stretches the volatility window across a couple of hours.
Typical volatility around the release is 80-200 pips on USD/JPY across the decision and press conference. That is an average, not a limit: when the figure lands far from consensus, or when it contradicts the central bank's own guidance, the move can be several times larger and can extend for the rest of the session.
| Pair | Why it reacts |
|---|---|
| USD/JPY | The direct expression of BoJ policy. |
| EUR/JPY | Wider carry expression. |
| AUD/JPY | The classic high-beta carry pair. |
Surprise is the released figure minus the consensus forecast, in the units of the release. Green means the figure printed above consensus, red below.
| Release date | Period | Previous | Forecast | Actual | Surprise |
|---|---|---|---|---|---|
| 16 Jun 2026 | Jun meeting | 0.75% | 0.75% | 0.75% | 0.00 |
| 2 May 2026 | May meeting | 0.75% | 0.75% | 0.75% | 0.00 |
| 18 Mar 2026 | Mar meeting | 0.75% | 0.75% | 0.75% | 0.00 |
| 1 Feb 2026 | Feb meeting | 0.75% | 0.75% | 0.75% | 0.00 |
| 18 Dec 2025 | Dec meeting | 0.75% | 0.75% | 0.75% | 0.00 |
| 3 Nov 2025 | Nov meeting | 0.75% | 0.75% | 0.75% | 0.00 |
| 19 Sep 2025 | Sep meeting | 0.75% | 0.75% | 0.75% | 0.00 |
| 5 Aug 2025 | Aug meeting | 0.75% | 0.75% | 0.75% | 0.00 |
Bank of Japan publishes the BoJ Interest Rate Decision for Japan. It is released 8 times per year, typically at 03:00 GMT (UTC+00:00).
We rate this release high impact. In our sample the typical move is 80-200 pips on USD/JPY across the decision and press conference, though a large deviation from consensus can produce considerably more.
USD/JPY, EUR/JPY, AUD/JPY carry the cleanest reaction. The direct expression of BoJ policy.
No. The currency reaction depends on how the figure changes the expected path of interest rates, not on whether the headline is high or low. The same surprise can be read very differently depending on the central bank's current stance.