You are here

Japan's savers won't play ball as the BOJ turns negative

BT_20160204_KVJPNBANKS4_2101858.jpg
"There's no point in depositing money," says Kiyoshi Ishii, the worried owner of a shop selling rice crackers in Sugamo. "There's no other way than to keep money under the mattress."

Tokyo

THE Bank of Japan (BOJ) hopes that cutting interest rates below zero will boost spending and investment. But fear, inertia and years of paltry returns mean the nation's army of savers are unlikely to march to the central bank's tune.

After the BOJ made its move on Friday to...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes