
Mizuho Bank, Ltd. building in Tokyo on April 7, 2021
Jiji Press
11:23 JST, August 10, 2023
TOKYO (Jiji Press) — Mizuho Bank said Wednesday that it will raise its long-term prime lending rate by 0.1 percentage point from the previous month to 1.4% in August, a level unseen since May.
The rise in the benchmark rate on loans to big companies, set to take effect Thursday, reflects a climb in Japanese government bond yields following a Bank of Japan decision to adjust its monetary policy.
Mizuho Bank last raised the prime rate in February.
Last month, the BOJ Policy Board decided to tolerate rises in 10-year JGB yields to 1% by operating its yield curve control flexibly.
The yield on the newest 10-year JGB issue, the bond market’s benchmark, hit a nine-year high of 0.655% last week.
Popular Articles
Popular articles in the past 24 hours
-
Typhoon Sepat Forms near Ogasawara Islands
-
Japan Postpones Ending Japan-S. Korea Continental Shelf Agreement...
-
Boy Referred to Prosecutors Over Placing Condom at Tokyo Kura Sus...
-
LDP Suffers Historic Defeat in Tokyo Assembly Election
-
Hayashi: U.S. Strikes on Iran Were Show of Determination
-
Fuji TV Senior Employee Arrested on Suspicion of Online Casino Ga...
-
Lottery in Aomori Pref. Rewards Locals Who Get Treated for High B...
-
Shohei Ohtani Pitches Sharp First Inning for Dodgers before Drivi...
Popular articles in the past week
-
Vietnam, Thailand Aim to Grow Rice Exports to Japan
-
Nippon Steel Completes Acquisition of U.S. Steel; Nippon Steel Ch...
-
Tohoku Shinkansen Suspends Operations Between Tokyo and Sendai; N...
-
M5.2 Earthquake Hits Japan's Kagoshima Prefecture
-
Typhoon Sepat Forms near Ogasawara Islands
-
Japan to Lead Charge on International Rules for Space Debris Remo...
-
46-year-old Man Killed by Bear in Japan’s Nagano Prefecture; 2nd ...
-
Over 260 Japanese National Treasures Featured at Special Exhibiti...
Popular articles in the past month
-
Aichi Rice Production Under Siege from Warming Climate; Record He...
-
Japanese Researchers Develop ‘Transparent Paper’ as Alternative t...
-
Average Retail Rice Price Up for Second Consecutive Week; More Th...
-
Japan's Cooperation in Alaska LNG Development Project Emerges in ...
-
Trump: Nippon Steel Will Part Own U.S. Steel, U.S. to Be in Contr...
-
Core Inflation in Japan Capital Hits 3.6%, Keeps BOJ Rate-Hike Ch...
-
Vietnam, Thailand Aim to Grow Rice Exports to Japan
-
Japan's Maglev Shinkansen's Partially Completed Station Unveiled;...
"Business" POPULAR ARTICLE
-
Average Retail Rice Price Up for Second Consecutive Week; More Than Double Same Period Last Year
-
Japan’s Cooperation in Alaska LNG Development Project Emerges in Japan-U.S. Tariff Negotiations; But Industry Concerns Exist
-
Core Inflation in Japan Capital Hits 3.6%, Keeps BOJ Rate-Hike Chance Alive
-
Govt, Carmakers to Join Hands on Autonomous Cars With AI; New Technology Allows Greater Adaptability, Lower Cost
-
‘Magnificent 7’ Could Adopt Stablecoins in Next 3 Years, Says Crypto Platform Founder
JN ACCESS RANKING
-
Japanese Researchers Develop ‘Transparent Paper’ as Alternative to Plastics; New Material Is Biodegradable, Can Be Produced with Low Carbon Emissions
-
Average Retail Rice Price Up for Second Consecutive Week; More Than Double Same Period Last Year
-
Japan’s Cooperation in Alaska LNG Development Project Emerges in Japan-U.S. Tariff Negotiations; But Industry Concerns Exist
-
Core Inflation in Japan Capital Hits 3.6%, Keeps BOJ Rate-Hike Chance Alive
-
Vietnam, Thailand Aim to Grow Rice Exports to Japan