J-banks boost interest on deposits to a MASSIVE 0.05%!

[Taro Toporific]

Japan's stingy banks hike returns on some deposits
TOKYO, Thursday March 23, 6:29 PM (Reuters) --- Japan's major banks surprised customers and stock analysts this week by raising the returns they pay on some deposits, in a sign of stiffening competition among the country's retail lenders.
The series of rate increases on fixed-term deposits, initiated by industry leader Mitsubishi UFJ Financial Group (MUFG) , left payouts on one-year deposits at a still-meagre 0.05-0.06 percent and 10-year deposit rates at about 0.35 percent....more...:rofl:

[Charles]

This is truly the end of an era, the end of free money (for the banks, at least)! Break out the champagne and caviar, is it too soon to declare a new bubble?

I just can't believe it, the Prime Rate has been [SIZE="6"]ZERO[/SIZE] for as long as I can remember, must be a decade or more. Taro, maybe you know, just how long has the rate been [SIZE="6"]ZERO[/SIZE]?

[Buraku]

Stagnation for over a decade but economists have run the numbers and given a dire warning - if they allow inflation to comeback Japan could be really fucked ( think Argentina or the slum 1900s economy of Japan )