Trillions of yen of financial support hasn’t been enough to win over Japan’s commercial banks, with the majority of lenders still vehemently opposed to the central bank’s negative interest rate policy.

While the Bank of Japan’s ¥75 trillion ($700 billion) of measures to prop up lending during the pandemic are welcome help, senior banking sector officials interviewed by Bloomberg said the prevailing view in the industry remains that the profit-draining negative rate should never be lowered and should be scrapped altogether.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.