DATA

Trilateral Statistics

Promoting peace and co-prosperity among
China, Japan, and the Republic of Korea
home MENU
Statistical Terms Central bank policy rate (end of period %)
Topic
Basic economic indicators
Definition
The central bank policy rate (CBPR) is the rate that is used by central bank to implement or signal its monetary policy stance. The BIS data set is unique in three respects. First, this is the only data set containing both current and historical data for a large number of countries. Second, central banks informed the BIS on which interest rates to consider as policy rates. Third, as far as possible, the metadata contain information on the time lag between the announcement of the new rate and the day it becomes effective.. The choice of interest rate to be shown in the data set is less obvious for periods when monetary policy was not conducted with an interest rate instrument.
Source
Bank for International Settlements
Periodicity
Annual
Temporal Coverage
1999-2019
Note
People's Bank of China
Compilation
From 20 August 2019 onwards: Loan Prime Rate (1 year)
From 1 Jan 1996 to 19 August 2019: Official lending rate (1 year).

Bank of Korea
Compilation
From 7 Mar 2008 onwards: Bank of Korea base rate;
from 6 May 1999 to 6 Mar 2008: target overnight call rate (base rate).
Additional information and breaks
The Bank of Korea base rate has been changed from the overnight call rate
to 7-day repurchase agreements rate since Feb 2008.

Bank of Japan
Compilation
From 21 Sep 2016 onwards: the BOJ set the guideline for market operations
which specifies a short-term policy interest rate at minus 0.1 percent and a
target level of 10-year JGB yields at around 0 percent. Figures show the
short-term policy interest rate;
from 4 Apr 2013 to 20 Sep 2016: no policy rate available;
from 5 Oct 2010 to 3 Apr 2013: the BOJ encouraged the uncollateralized
overnight call rate to remain at around 0 to 0.1 percent;
from 19 Dec 2008 to 4 Oct 2010: the BOJ encouraged the uncollateralized
overnight call rate to remain at around 0.1 percent;
from 31 Oct 2008 to 18 Dec 2008: the BOJ encouraged the uncollateralized
overnight call rate to remain at around 0.3 percent;
from 21 Feb 2007 to 30 Oct 2008: the BOJ encouraged the uncollateralized
overnight call rate to remain at around 0.5 percent;
from 14 Jul 2006 to 20 Feb 2007: the BOJ encouraged the uncollateralized
overnight call rate to remain at around 0.25 percent;
from 9 Mar 2006 to 13 Jul 2006: the BOJ encouraged the uncollateralized
overnight call rate to remain at effectively zero percent;
from 19 Mar 2001 to 8 Mar 2006: no policy rate available;
from 28 Feb 2001 to 18 Mar 2001: the BOJ encouraged the uncollateralized
overnight call rate to move on average around 0.15 percent;
from 11 Aug 2000 to 27 Feb 2001: the BOJ encouraged the uncollateralized
overnight call rate to move on average around 0.25 percent;
from 12 Feb 1999 to 10 Aug 2000: no quantitative target was applied; the
BOJ encouraged the uncollateralized overnight call rate to move as low as
possible during the period;
from 9 Sep 1998 to 11 Feb 1999: the BOJ encouraged the uncollateralized
overnight call rate to move on average around 0.25 percent;
from 1 Jan 1970 to 8 Sep 1998: official discount rate;
from 1 Jan 1946 to 31 Dec 1969: official discount rate.
For periods where no policy rate is shown the Bank of Japan did not have a
quantitative target, did not set policy rate or used more than one instruments.
For more details see "Additional information and breaks"