Japan ends negative interest rates
The last negative policy rate in the world is lifted after seventeen years of unconventional policy.
- When
- Known to
- ± 12 hours
- Era
- Contemporary, Holocene
The Bank of Japan raised its policy rate above zero on 19 March 2024, ending the world's last negative rate regime and the yield curve control that went with it. Japan had been the laboratory for deflation-fighting since the 1990s, and its exit was watched as a test of whether such policies could ever be unwound. The yen fell to a 34-year low anyway.