What changed in the Bank of Japan statement —

Bank of Japan raised policy at 0.50%. The vote was 9-0. Read the official statement and the previous release side by side below.

Decision

  • Decision: hike
  • Policy rate: 0.50%
  • Vote: 9-0

Going into the decision

On the day, the committee read as hawkish — 1.2 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. 7 of 9 active members had stored official remarks.

Official statement

July 31, 202 5 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 .5 percent.

Reference Meeting hours: Wednesday, July 30: 14:00-15:51 Thursday, July 31: 9:00-11:50 Policy Board members present: UEDA Kazuo, Chairman (Governor) HIMINO Ryozo (Deputy Governor) UCHIDA Shinichi (Deputy Governor) NOGUCHI Asahi NAKAGAWA Junko TAKATA Hajime TAMURA Naoki KOEDA Junko MASU Kazuyuki

[Others present] July 30 From the Ministry of Finance: MAEDA Tsutomu, Deputy Vice-Minister for Policy Planning and Coordination (14:00-15:51) From the Cabinet Office: HAYASHI Sachihiro, Vice-Minister for Policy Coordination (14:00-15:51) July 31 From the Ministry of Finance: SAITO Hiroaki, State Minister of Finance (9:00-11:28, 11:34-11:50) From the Cabinet Office: SETO Takakazu, State Minister of Cabinet Office (9:00-11:28, 11:34-11:50) Release dates and times: Statement on Monetary Policy -- Thursday, July 31 at 11:57 Outlook for Economic Activity and Prices (Outlook Report) The Bank's View -- Thursday, July 31 at 11:57 Full text -- Friday, August 1 at 14:00 Summary of Opinions -- Friday, August 8 at 8:50 Minutes of the Monetary Policy Meeting -- Thursday, September 25 at 8:50

Read the official source

Related

Full meeting record · Press conference transcript · Previous statement · Next statement

Background reading

Cadence's comparison is generated from the official documents. Read the methodology.

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