Overview
Release date of BOJ Monetary Policy Meeting minutes. Published 1-2 months after each meeting.
Meeting summary （published 2026-08-05）
The Bank of Japan decided at its June 15-16 monetary policy meeting to guide the uncollateralized overnight call rate (overnight) to move around 1.0 percent (approved 7-1). In line with this decision, the applicable rate for the supplementary deposit account was changed to 1.0 percent, and the benchmark lending rate to 1.25 percent. The economic outlook shows continued moderate recovery, though some weakness is observed due to Middle East developments. On prices, consumer price inflation (excluding fresh food) remains below 2 percent due to government energy relief measures, but price pass-through in inter-firm transactions is progressing at a somewhat faster pace alongside rising crude oil prices. A broad consensus exists among board members that inflation will reach levels broadly consistent with the 2 percent target from late fiscal 2026 through fiscal 2027. The decision also includes halting the planned reduction in long-term government bond purchases from April 2027 onward.