Kiyo Bank announced that, following the Bank of Japan's policy meeting, it would raise its ordinary savings deposit rate to 0.5% from 2 November. It also indicated plans to raise time deposit rates in the future.
Kiyo Bank announced that, following the outcome of the Bank of Japan's monetary policy meeting, it would raise its ordinary savings deposit rate on 2 November.
The ordinary savings deposit rate will rise from the current 0.4% to 0.5%.
At its September meeting, the Bank of Japan decided to raise its policy rate to 1.25%, explaining that the monetary policy environment had changed against the backdrop of future price trends and exchange-rate movements.
Kiyo Bank also indicated that it plans to raise time deposit rates in the future in conjunction with the latest increase.