Japan Post Bank announces rate hikes on time and fixed-amount deposits

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Summary · why it matters

Japan Post Bank announced on the 7th that it will raise interest rates on time deposits and fixed-amount deposits. The new rates take effect on the 10th. The move follows the Bank of Japan's additional rate hike in June. The rate increase for time deposits ranges from 0.1 to 0.35 percentage points, bringing the one-year rate to 0.5 percent, the five-year rate to 1.0 percent, and the ten-year rate to 1.25 percent.

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