BoJ moves quietly away from negative rate

Bank of Japan
The Bank of Japan

The Bank of Japan is gradually moving away from its negative interest rate policy, charging sub-zero rates on a smaller portion of banks’ deposits, as it has struggled to gain traction.

The “benchmark ratio” has been increased to 36%, up from 35.5% in April and May, and 32.5% in March, the BoJ said in early June. The action expands the portion of reserves that pays zero interest and cuts the amount with a negative rate.

The benchmark ratio has been rising steadily since it was introduced by

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