Japan's Interest Rates in Spotlight: A Comparison That Puts Others in Perspective

Major banks in Japan have started raising interest rates on time deposits for savers — to the tune of 0.2%, Bloomberg reported on Thursday.

While the return may seem paltry, it’s far better than the near-zero rate that Japanese savers have been getting for years — thanks to the Bank of Japan’s, or BOJ’s, negative interest rate policy that has been in place since 2016 to simulate its moribund economy.

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