What changed in the Bank of Japan statement —
Bank of Japan raised policy at 0.25%. The vote was unanimous. Read the official statement and the previous release side by side below.
Decision
- Decision: hike
- Policy rate: 0.25%
- Vote: unanimous
Going into the decision
On the day, the committee read as hawkish — 1.5 on a scale where +3 means every member wants higher rates and −3 means every member wants cuts.
Reconstructed from official member remarks published before the decision date. 5 of 9 active members had stored official remarks.
Official statement
October 31, 2024 Bank of Japan
Statement on Monetary Policy
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 0.25 percent.
Reference Meeting hours: Wednesday, October 30: 14:00-16:15 Thursday, October 31: 9:00-11:41 Policy Board members present: UEDA Kazuo, Chairman (Governor) HIMINO Ryozo (Deputy Governor) UCHIDA Shinichi (Deputy Governor) ADACHI Seiji NAKAMURA Toyoaki NOGUCHI Asahi NAKAGAWA Junko TAKATA Hajime TAMURA Naoki
[Others present] October 30 From the Ministry of Finance: TERAOKA Mitsuhiro, Deputy Vice-Minister for Policy Planning and Coordination (14:00-16:15) From the Cabinet Office: HAYASHI Sachihiro, Vice-Minister for Policy Coordination (14:00-16:15) October 31 From the Ministry of Finance: SAITO Hiroaki, State Minister of Finance (9:00-11:24, 11:29-11:41) From the Cabinet Office: AKAZAWA Ryosei, Minister of State for Economic and Fiscal Policy (9:00-11:24, 11:29-11:41) Release dates and times: Statement on Monetary Policy -- Thursday, October 31at 11:48 Outlook for Economic Activity and Prices (Outlook Report) The Bank's View -- Thursday, October 31at 11:48 Full text -- Friday, November 1 at 14:00 Summary of Opinions -- Monday, November 11 at 8:50 Minutes of the Monetary Policy Meeting -- Tuesday, December 24 at 8:50
Related
Background reading
Cadence's comparison is generated from the official documents. Read the methodology.
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