Mizuho to Raise Long-Term Prime Rate for 1st Time in 33 Months

Economy

Tokyo, April 9 (Jiji Press)--Mizuho Bank said Thursday that it will raise its long-term prime lending rate for April, the first increase in 33 months, reflecting higher Japanese government bond yields and a change in market conditions due to the coronavirus pandemic.

The major Japanese lender will raise the benchmark interest rate on loans to big companies by 0.15 percentage point from the previous month to 1.10 pct, its highest level since January 2016, effective Friday.

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