Abukuma Shinkin Bank, based in Minamisoma, raised rates on time deposits following the Bank of Japan's review of its monetary policy. The rates are 0.600% for 1 month, 0.625% for 3 and 6 months, and 0.700% for 1 year.
Abukuma Shinkin Bank, based in Minamisoma, announced that it would raise time deposit rates in response to the Bank of Japan's monetary policy review and implemented the increase on the 4th. It appears to have been announced on the 2nd.
The new rates by category are 0.600% for a 1-month deposit, 0.625% for 3- and 6-month deposits, and 0.700% for a 1-year deposit. The financial institution said the increase was a response to the Bank of Japan's policy direction.
The announcement applies to the bank's time deposits in Minamisoma. The article provides no specific comparison with other banks or discussion of future interest rate movements. Further information is expected to draw attention.