Statement on Monetary Policy

May 1, 2025

Bank of Japan

PDF Version [PDF 352KB]

At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to set the following guideline for money market operations for the intermeeting period:

The Bank will encourage the uncollateralized overnight call rate to remain at around 0.5 percent.

(Reference)

Meeting hours:

Wednesday, April 30: 14:00-15:55

Thursday, May 1: 9:00-11:55

Policy Board members present:

UEDA Kazuo, Chairman (Governor)

HIMINO Ryozo (Deputy Governor)

UCHIDA Shinichi (Deputy Governor)

NAKAMURA Toyoaki

NOGUCHI Asahi

NAKAGAWA Junko

TAKATA Hajime

TAMURA Naoki

KOEDA Junko

[Others present]

April 30

From the Ministry of Finance:

TERAOKA Mitsuhiro, Deputy Vice-Minister for Policy Planning and Coordination (14:00-15:55)

From the Cabinet Office:

HAYASHI Sachihiro, Vice-Minister for Policy Coordination (14:00-15:55)

May 1

From the Ministry of Finance:

SAITO Hiroaki, State Minister of Finance (9:00-11:37, 11:43-11:55)

From the Cabinet Office:

SETO Takakazu, State Minister of Cabinet Office (9:00-11:37, 11:43-11:55)

Release dates and times:

Statement on Monetary Policy -- Thursday, May 1 at 12:02

Outlook for Economic Activity and Prices (Outlook Report)

The Bank's View -- Thursday, May 1 at 12:02

Full text -- Friday, May 2 at 14:00

Summary of Opinions -- Tuesday, May 13 at 8:50

Minutes of the Monetary Policy Meeting -- Friday, June 20 at 8:50