{
  "data": {
    "id": "bank-of-japan-2026-09-18",
    "bank": "bank-of-japan",
    "bankName": "Bank of Japan",
    "country": "JP",
    "date": "2026-09-18",
    "announceAt": null,
    "timezone": "Asia/Tokyo",
    "dateStatus": "published",
    "movedFrom": null,
    "rateBefore": 1,
    "step": 0.25,
    "calendarSource": "https://www.boj.or.jp/en/mopo/mpmsche_minu/index.htm",
    "citation": "BOJ MPM schedule page, 2026 table: Sept. 17-18; decision on the second day. The statement's \"Release dates and times\" line gives 11:54 (JST, UTC+9). The BOJ sets no announcement time in advance; the statement is released when the meeting ends, so announceAt is left out.",
    "settleSource": {
      "role": "decision-statement",
      "pattern": "https://www.boj.or.jp/en/mopo/mpmdeci/state_<yyyy>/k<yymmdd>a.htm (to Jan 2026) or https://www.boj.or.jp/en/mopo/mpmdeci/mpr_<yyyy>/k<yymmdd>a.pdf (from Mar 2026), titled \"Statement on Monetary Policy\" or \"Change in the Guideline for Money Market Operations\"",
      "foundAt": "https://www.boj.or.jp/en/mopo/mpmdeci/state_2026/index.htm",
      "example": "https://www.boj.or.jp/en/mopo/mpmdeci/mpr_2026/k260918a.pdf",
      "resolvable": false,
      "reads": {
        "right": 0,
        "wrong": 0,
        "void": 0
      }
    },
    "observed": {
      "at": "2026-09-18T02:54:00Z",
      "rateBefore": 1,
      "rateAfter": 1.25,
      "direction": "raise",
      "statement": "https://www.boj.or.jp/en/mopo/mpmdeci/mpr_2026/k260918a.pdf",
      "observed": true
    },
    "page": "https://macroindex.org/bank/bank-of-japan/decision/2026-09-18",
    "account": {
      "summary": "The Bank of Japan raised its short-term policy rate by 25 basis points to around 1.25%, effective 24 September 2026.",
      "vote": "7–2",
      "dissent": "Asada Toichiro and Sato Ayano preferred to keep the rate unchanged, Asada noting core CPI inflation below 2% and Sato that economic and price developments had not substantially accelerated.",
      "reasons": [
        "The Bank said activity and prices had developed generally in line with its July baseline, with core CPI inflation rising to 1.5–2.0% as higher business-to-business prices spilled over into consumer prices.",
        "It said underlying CPI inflation was approaching 2% and that there was a risk of it moving above the 2% target as firms shifted toward raising wages and prices and inflation expectations rose.",
        "It judged that financial conditions would remain accommodative after the increase, with real interest rates low and corporate funding conditions favourable."
      ],
      "guidance": "The Bank said it will continue to raise the policy rate, and that stabilising underlying CPI inflation around 2% had become important.",
      "quote": "the perspective of stabilizing underlying CPI inflation at a level around 2 percent becomes important",
      "links": [
        {
          "label": "Summary of Opinions",
          "url": "https://www.boj.or.jp/en/mopo/mpmsche_minu/opinion_2026/opi260918.pdf"
        }
      ],
      "readFrom": [
        "https://www.boj.or.jp/en/mopo/mpmdeci/mpr_2026/k260918a.pdf"
      ],
      "at": "2026-10-10"
    }
  },
  "meta": {
    "dataset_version": "2026-10-10.30752eb2",
    "built_at": "2026-10-10T18:04:32Z",
    "generated_at": "2026-10-10T21:51:43.783Z",
    "licence": "CC BY 4.0: credit \"Macro Index\" and link to the site",
    "docs": "https://macroindex.org/openapi.json"
  }
}