Japanese Banks Will Get Earnings Bump From Deposits at BOJ
Japanese banks will start earning billions of yen in interest on their deposits with the Bank of Japan after it scrapped negative rates.
Japanese banks will start earning billions of yen in interest on their deposits with the Bank of Japan after it scrapped negative rates.
One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
The Bank of Japan scrapped the world’s last negative interest rate, ending the most aggressive monetary stimulus program in modern history, while also indicating that financial conditions will stay accommodative for now.
Investors are in a risk-on mood, and are snapping up stocks in Europe and emerging markets at the expense of the US and the technology sector, according to Bank of America Corp.’s latest fund manager survey.
South African inflation expectations declined for the next two years, providing the central bank with welcome news ahead of its policy meeting next week though it may not be enough to tempt it to cut interest rates.
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