Household Cash, Deposits Hit Record 1,034 T. Yen in Japan

Economy

Tokyo, Dec. 21 (Jiji Press)--The amount of cash and deposits held by households in Japan at the end of September grew 4.9 pct from a year earlier to a record 1,034 trillion yen, the Bank of Japan said Monday.

The balance went up as consumers became increasingly reluctant to spend and tended to keep cash on hand amid the new coronavirus epidemic, the central bank said.

Households’ total financial assets grew 2.7 pct to 1,901 trillion yen, a record high.

Of the total, shareholdings fell 1.8 pct to 181 trillion yen. But the size of the drop was smaller than the 4.3 pct fall logged at the end of June, reflecting a recovery in stock prices.

Investment trusts rose 1.6 pct to 72 trillion yen, up for the first time in three quarters.

[Copyright The Jiji Press, Ltd.]

Jiji Press