Following the Bank of Japan's review of monetary policy, 秋田銀行 and 北都銀行 will raise ordinary deposit rates by 0.1 percentage points to 0.5% from 2 November. The short-term prime rate, a benchmark for lending rates, is also scheduled to rise by 0.25 percentage points to 3.125%.
Following the Bank of Japan's decision to raise its policy rate to 1.25% at a monetary policy meeting, 秋田銀行 and 北都銀行 announced increases in deposit rates.
From 2 November, the two banks will raise ordinary deposit rates by 0.1 percentage points to 0.5% and the short-term prime rate by 0.25 percentage points to 3.125%. They said increases in time deposit rates would also be announced once finalised.