Japan has been recovering from a massive economic recession since the nineties, including manufacturing and plastic injection molding in Japan. In an effort to accomplish this, the Bank of Japan, has maintained a zero, or sub zero interest rate. But the Bank Of Japan has just increased their interest rate for the first time in 17 years.

On March 19, 2024 they increased rates from -0.1% to 0.1%. The BOJ is the last of the major national banks to raise their interest rates. How will this affect the plastic injection molding industry in Japan? The jury is out right now but this significant change is worth noting and watching.

Honestly, this interest rate is still SO much lower than what we have here in the United States. At the time of writing this, the Prime Interest Rate in the United States is 8.5%, a significant amount more, but regardless, this is a major change of policy, and the end of an era.