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Japan: monetary policy and asset reduction

This dossier follows Bank of Japan interest-rate decisions and reductions in its exchange-traded fund holdings. It distinguishes policy decisions from sales actually executed.

Last updated : 1 key moments
Bank of Japan headquarters in Tokyo.
Bank of Japan headquarters, archive published in 2005, 2007 version. This photograph does not show the 2026 meeting. — Fg2 / Wikimedia Commons — domaine public ; archive publiée en 2005, version 2007, sans modification.

Where things stand

On 30 October 2026, the rate remains at 1.25%. Annual ETF sales are to rise to 860 billion yen at book value in January 2027.

Confirmed

Bank of Japan holds rate at 1.25% and speeds up ETF sales

The Bank of Japan kept its policy rate around 1.25% on 30 October 2026. It also decided to accelerate sales of its exchange-traded funds, or ETFs, from January 2027.

Bank of Japan headquarters in Tokyo.
Bank of Japan headquarters, archive published in 2005, 2007 version. This photograph does not show the 2026 meeting. — Fg2 / Wikimedia Commons — domaine public ; archive publiée en 2005, version 2007, sans modification.

The rate decision passed by eight votes to one. Hajime Takata proposed a rise to 1.5%, which the majority rejected.

Annual ETF sales will increase from about 330 billion to 860 billion yen at book value. That amount is distinct from the securities' market value. Sales may still be temporarily adjusted or suspended depending on market conditions.

The unchanged rate applies to immediate monetary conditions; faster sales represent a future step in reducing the portfolio.

Sources 3