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For a long time, Japan's financial market has been in an ultra-low interest rate environment, but with the Bank of Japan's small steps to adjust its monetary policy, Japan's domestic financial environment has gradually changed, which has also brought a turnaround to local people's family finances.
As the most basic product for asset allocation, bank deposits account for more than half of all household financial assets in Japan. However, deposit rates in Japan have been close to zero for a long time and have only recently begun to change.
Starting last month, Japan's largest commercial bank, Mitsubishi UFJ Bank, raised the 10-year deposit rate from 0.002% to 0.2%, equivalent to 100 times, the first time in 12 years. In addition, some insurance companies have also raised the predetermined interest rate for savings insurance products, which means that policyholders will have to pay less premiums.
Takeshi Fukuda, head of a Japanese financial consulting company: Yen savings insurance, which is scheduled to rise in interest rates, will be more popular than before, because many people are worried about exchange rate risks and are worried about the loss of foreign currency insurance.
Recently, at a financial lecture held in Tokyo for ordinary consumers, the reporter found that the changes in Japan's financial environment have attracted the attention of many listeners. For investors with relatively conservative risk appetite and hope to obtain stable returns through wealth management, bonds are one of the wealth management products they focus on.
Behind the changes in Japan's financial environment is the gradual fine-tuning of monetary policy by the Bank of Japan. Although the Bank of Japan still says it wants to keep long-term interest rates around zero, it is no longer strictly setting an acceptable upper limit for volatility. Many market participants widely expect that negative interest rates are likely to be lifted in the first half of next year, which would be the first rate hike by the Bank of Japan in 17 years.
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Editor: Dong Lindan