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BoJ Interest Rate Decision, September 2025

The Bank of Japan held the short-term policy interest rate at 0.50% on September 19, 2025, as expected.

Decision0.50%■ hold
Against expectedAs expectedexpected 0.50%
Previous0.50%short-term policy interest rate
USD/JPY one hour later −1.1 pips from the last price before
The result

What the BoJ decided in September 2025

The move Hold Held at 0.50%.
Against expected No surprise Economists expected: hold at 0.50%. The decision was as expected.
Timing 12:47 PM Tokyo Friday, September 19, 2025; press conference at 3:30 PM Tokyo.
What price did

USD/JPY after the BoJ decision, minute by minute

One-minute candles, Tokyo time. The box is the hour before the announcement. How we measure.

USD/JPY one-minute chart around the Bank of Japan decision of Sep 19, 2025 The hour before the 12:47 announcement ranged 53 pips. The first spike went below it by 12 pips, and a five-minute candle closed back inside after 5 minutes. 147.2 147.4 147.6 147.8 148.0 12:00 12:30 13:00 13:30 14:00 14:30 THE HOUR BEFORE BoJ 12:47 Spike 147.369 · 12 pips past the hour's low Closed back inside · 5 min
  1. The hour beforeUSD/JPY ranged 53 pips, from 147.491 to 148.023, and was at 147.492 at the announcement.
  2. The first spike After 0 minutes price went through the hour's low and ran 12 pips past it.
  3. The close back A five-minute candle closed back inside the range after 5 minutes.
  4. The other side Price did not trade through the opposite edge within four hours.
  5. The moves From the last price before the announcement: −4.1 pips at 15 minutes, −1.1 pips at one hour, +39 pips at four hours.
For context

Across 14 measured BoJ decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 11 (79%), and in 6 of those price then took the other side within four hours. In the other 3 the first move held. Median move in the first 15 minutes: 28 pips.

This decision is one of the closed-back cases. Counts include the decisions where it did not close back. All BoJ dates · BoJ overview.

← Previous decisionBoJ, July 2025Held at 0.50% Next decision →BoJ, October 2025Thu, Oct 30, 12:15 PM Tokyo
Questions

BoJ September 2025 decision: questions

What time was the BoJ interest rate decision on Sep 19, 2025?

It was announced at 12:47 PM Tokyo (11:47 PM EDT New York, 4:47 AM London London), with the press conference at 3:30 PM Tokyo.

What did the BoJ decide in September 2025?

Held at 0.50% (previous 0.50%). Economists expected: hold at 0.50%, so the decision was as expected.

How did USD/JPY react to the BoJ decision in September 2025?

On one-minute candles: the hour before ranged 53 pips; the first spike went below it by 12 pips; a five-minute candle closed back inside after 5 minutes; after one hour USD/JPY was −1.1 pips from its pre-announcement price.

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