European Business School London Regents College

Banking industry in Japan: Recent trends

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12 Banking in Japan

The deflationary trend shows no sign of receding. The rate of decline in consumer prices moderated from 1.7 per cent in December to 1.1 per cent in February, but excluding food and energy prices it remained basically unchanged at 1.1 per cent.
According to the forecasts of the private analysts surveyed by Consensus Economics, deflation will continue in 2010 at an average annual rate of 1.1 per cent. The Bank of Japan has held its monetary policy reference rate unchanged at 0.1 per cent.
In order to foster a fall in long-term interest rates, in mid-March it decided to double to ¥20 trillion (about 4 per cent of GDP) the amount of liquidity that will be provided to the market by means of three-month guaranteed loans under the facility introduced in December.

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