Mizuho to Raise Long-Term Prime Lending Rate

Tokyo, Aug. 9 (Jiji Press)--Mizuho Bank said Tuesday that it will raise its long-term prime lending rate for the first time in a year and a half, effective Wednesday. The move by the major Japanese bank reflects a recent rise in market interest rates. The unit of Mizuho Financial Group Inc.

will raise the long-term prime, a benchmark interest rate on loans to large companies, by 0.05 percentage point to 0.95 pct for August. Long-term interest rates have been rising since the Bank of Japan announced a decision late last month to conduct a comprehensive assessment of effects of its massive monetary easing policy.Copyright JIJI PRESS LTD.