Tokyo, Jan. 8 (Jiji Press)–Mizuho Bank said Thursday it will set its long-term prime lending rate for January at 2.75 pct, up from 2.60 pct at present and the highest level since 2.90 pct for February 1999. The new rate will take effect Friday. The hike reflects rising bond yields. Mizuho, one of Japan’s three megabanks, will raise the rate for the fifth consecutive month. The long-term prime rate is regarded as a benchmark for bank loans of one year or longer to large companies. END [Copyright The Jiji Press, Ltd.]
Mizuho Long-Term Prime Rate to Rise to 27-Yr High of 2.75 Pct
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