Tokyo, Dec. 9 (Jiji Press)–Mizuho Bank said Tuesday that it will raise its long-term prime lending rate for December to 2.6 pct from the current 2.45 pct, due to higher bond yields and other factors. The move, effective Wednesday, will be the Japanese bank’s fourth consecutive monthly rate hike. It raises the rate to its highest level since July 2006. The long-term prime rate serves as a benchmark for financial institutions when lending to large companies for terms of one year or longer. END [Copyright The Jiji Press, Ltd.]
Mizuho to Raise Long-Term Prime Rate to 2.6 Pct
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