The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
March 19, 2026BANK OF JAPAN MONETARY POLICY Today, the Policy Board of the Bank of Japan decided to maintain their uncollateralized overnight call rate around 0.75%.
Japan's economy has recovered moderately, with little change in exports and industrial production. Corporate profits have remained high but experience a downward pressure from tariffs on manufacturing. Housing investment has been declining, and public investment has remained flat. CPI inflation decelerated to around 2.0% with government measures aimed to reduce household burden of higher energy prices. Amid heightened tensions in the Middle East, global financial and capital markets have become volatile, and crude oil prices have risen sharply; these developments will need to be closely monitored moving forward. As the economy continues to gain momentum, labour shortages are expected to become more pronounced, and medium‑ to long‑term inflation expectations are projected to trend higher.
The Bank of Japan will continue to raise the policy interest rate and adjust the degree of monetary accommodation. The Bank will respond to developments in economic activity and prices, as well as financial conditions, to sustainably achieve the price stability (2 per cent) target.
The Bank will release their next monetary policy statement on April 28, 2026.
Source: Bank of Japan, Statement on Monetary Policy
<--- Return to Archive
