The Bank of Japan raised its policy rate on 18 September 2026. Eight members voted for the rise and two, Asada Toichiro and Sato Ayano, voted against. The new guideline applies from 24 September.
The market resolves on the Statement on Monetary Policy published on boj.or.jp at the close of the 17–18 September 2026 meeting (usually around noon JST on 18 September); resolves YES if it raises the short-term policy interest rate by any amount. If that source has not published in time, Reuters and BBC News reports of the decision settle it.
Japan has bought yen in six runs since 1998, counting buying days a month or less apart as one run. For each run we checked what the Bank of Japan did at its next meeting, using the Bank's own records. It raised rates after the two most recent runs and left them unchanged after the other four.