Mizuho Bank Raises Long-Term Prime Rate to 2.00%, Effective January 9, 2025, Highest Since June 2009

Jan 9, 2025, 06:26 AM

Mizuho Bank announced an increase in its long-term prime rate to 2.00%, marking the highest level in 15 years and 7 months. This adjustment, effective from January 9, 2025, represents a 0.10% rise from the previous rate. The new rate is the highest since June 2009, reflecting a broader trend of rising interest rates in the financial sector, influenced by the Bank of Japan's recent policy changes. As financial institutions compete to attract both depositors and borrowers, the overall long-term interest rate in Japan has also seen an increase, now standing at 1.185%.