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Statement on Monetary Policy

May 1, 2025
Bank of Japan

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