JustChartsECB, Bank of England and Bank of Japan Rate Decisions Explained
The European Central Bank (euro), Bank of England (pound) and Bank of Japan (yen) each set interest rates at eight scheduled meetings a year. The ECB announces at 14:15 Central European Time with a press conference at 14:45; the Bank of England announces at 12:00 noon UK time; the Bank of Japan has no fixed time but usually announces around midday Tokyo time, followed by the Governor’s press conference in the afternoon.
Key facts
- ECB
- decision 14:15 CET · press conference 14:45 CET
- Bank of England
- decision 12:00 UK time · 9-member MPC vote published
- Bank of Japan
- no fixed time, usually around midday Tokyo time
- Meetings
- about 8 a year each
- Reaction driver
- decision and guidance vs market expectations
European Central Bank (ECB) — EUR
- Key rate: the deposit facility rate is the main policy signal; the ECB also sets the main refinancing and marginal lending rates.
- Timing: decision published at 14:15 CET, President’s press conference at 14:45 CET.
- Watch: the staff projections (four times a year) and the tone of the press conference.
Bank of England (BoE) — GBP
- Key rate: Bank Rate.
- Timing: 12:00 noon UK time, with the Monetary Policy Summary and minutes.
- Watch: the vote split of the nine-member Monetary Policy Committee — a 5–4 vote signals a closer call than 9–0 and often moves the pound as much as the decision. The quarterly Monetary Policy Report adds forecasts.
Bank of Japan (BoJ) — JPY
- Key rate: the short-term policy rate; the BoJ also sets guidance for its government-bond purchases.
- Timing: no fixed announcement time — usually around midday Tokyo time on the second day of the meeting — followed by the Governor’s press conference in the afternoon.
- Watch: any change to bond-buying or yield-control policy and hints of future hikes; yen moves can be large because of global carry trades.
How currencies usually react
| Outcome vs expectations | Currency |
|---|---|
| Hawkish (higher rates, tighter guidance) | Strengthens |
| Dovish (cuts, softer guidance) | Weakens |
| As expected | Move driven by guidance and press conference |
For the US Federal Reserve, see FOMC rate decisions.
Frequently asked questions
What time does the ECB announce rates?
At 14:15 Central European Time, with the press conference starting at 14:45 CET.
What time does the Bank of England announce rates?
At 12:00 noon UK time on decision days.
Why is the Bank of Japan announcement time not fixed?
The BoJ releases its decision when the policy meeting ends, which varies — usually around midday Tokyo time.
Put it into practice
Live charts, an economic calendar and trading calculators — free with a JustCharts account.
See upcoming central-bank decisionsThis article is for education only and is not financial advice. Trading leveraged products carries a high risk of losing money. Contract sizes, trading hours and leverage limits vary by broker and country — always check your own broker’s specifications.