Mizuho to Raise Long-Term Prime Rate to 2.00 Pct

Jiji Press

16:31 JST, January 9, 2025

Tokyo (Jiji Press)—Mizuho Bank said Thursday that it will raise its long-term prime lending rate for January by 0.10 percentage point from the previous month to 2.00 pct, the highest level in 15 years and seven months.

The Japanese bank will hike the rate for the fifth consecutive month.

The rise in the benchmark interest rate on loans of a year or more to big companies, set to take effect on Friday, will come in response to higher Japanese government bond yields brought on by a rise in U.S. long-term interest rates and mounting speculation over a possible additional interest rate hike by the Bank of Japan.