日本银行折现率 (Discount Rate)
简介
日本银行 (Bank of Japan) 是日本的中央银行，负责制定日本的货币政策。
在1994年解除利率管制之前，民间银行主要通过从日本银行贷款来拆借资金，此贷款的利率被称作「公定歩合」(Official Discount Rate)，事实上代表了日本银行的货币政策利率。
解除利率管制之后，民间银行主要通过公开市场互相借贷资金，银行间隔夜拆借利率 (uncollateralized overnight call rate) 通常也就被视为日本银行的货币政策利率。 而日本银行通过公开市场业务 (open market operations) 来调整货币政策。 此时，「公定歩合」改名为「基準割引率および基準貸付利率」(Basic Discount Rate and Basic Loan Rate)，作为银行间隔夜拆借利率的上限继续存在（因为银行间隔夜拆借利率通常会低于日本银行折现率；而一旦拆借利率高于了折现率，所有民间银行都会改从日本银行贷款）。
历次调整
「公定歩合」(Official Discount Rate)
Date | Discount Rate of Commercial Bills and Interest Rates on Loans Secured by Government Bonds, Specially Designated Securities and Bills Corresponding to Commercial Bills (Tier 1) | Loans Secured by Other Collateral (Tier 2) |
|---|---|---|
| 1973-04-02 | 5.00 | 5.25 |
| 1973-05-30 | 5.50 | 5.75 |
| 1973-07-02 | 6.00 | 6.25 |
| 1973-08-29 | 7.00 | 7.25 |
| 1973-12-22 | 9.00 | 9.25 |
| 1975-04-16 | 8.50 | 8.75 |
| 1975-06-07 | 8.00 | 8.25 |
| 1975-08-13 | 7.50 | 7.75 |
| 1975-10-24 | 6.50 | 6.75 |
| 1977-03-12 | 6.00 | 6.25 |
「基準割引率および基準貸付利率」(Basic Discount Rate and Basic Loan Rate)
Date | Basic Discount Rate and Basic Loan Rate |
|---|---|
| 2001-01-04 | 0.50 |
| 2001-02-13 | 0.35 |
| 2001-03-01 | 0.25 |
| 2001-09-19 | 0.10 |
| 2006-07-14 | 0.40 |
| 2007-02-21 | 0.75 |
| 2008-10-31 | 0.50 |
| 2008-12-19 | 0.30 |
| 2024-08-01 | 0.50 |
| 2025-01-27 | 0.75 |