Following the Bank of Japan's policy rate hike, 十八親和銀行 and 長崎銀行 will raise their ordinary deposit rates from 0.40% to 0.50%, effective from 2 November. Both banks also raised the rates to 0.1% in August and are considering further increases in other rates.
Following the Bank of Japan's policy rate hike, 十八親和銀行 and 長崎銀行 announced that they would raise their ordinary deposit rates from 0.40% to 0.50%. The new rates will take effect from 2 November, and the banks will also consider raising other rates around the same time.
At 長崎銀行, an ordinary deposit rate of approximately 0.50% would be a level not seen in 34 years, since 1992. Both banks plan to provide updated information on the revised rates on their websites.
At its monetary policy meeting on the 17th and 18th of this month, the Bank of Japan decided to raise its policy rate from approximately 1.0% to approximately 1.25%, citing the risk of rising prices.