Following the Bank of Japan's rate hike, Chiba Bank, Keiyo Bank and Chiba Kogyo Bank raised their yen time deposit rates, with the 1-year rate increasing to 0.7%.
Following the Bank of Japan's decision in September to raise its policy rate to around 1.25%, Chiba Bank, Keiyo Bank and Chiba Kogyo Bank announced that they would each raise their yen time deposit rates.
By term, the 1–6 month rate was raised by 0.125% to 0.625%, the 1-year rate increased by 0.2% to 0.7%, and the 5-year rate was raised by 0.1% to 1.1%. The changes apply to Super Deposits and large-lot time deposits.
At the same time, the banks raised their yen ordinary deposit rates from 0.4% to 0.5% and also raised their short-term prime lending rates.
The move was reported as the banks' response following the Bank of Japan's rate-hike decision, with the service details based on each bank's official announcement.