Japan’s Major Bank Mizuho Announces Long-Term Prime Lending Rate Increase to 1.9%

Yomiuri Shimbun file photo
A Mizuho Bank building in Tokyo

Mizuho Bank, Ltd. announced Monday that it will raise its long-term prime lending rate by 0.05 percentage point to 1.9%, effective Tuesday or later, marking the highest level in 15 years.

The long-term prime lending rate is used as a benchmark for long-term lending rates for businesses.