Japan’s households, firms on saving spree as pandemic impact lingers

09.07.2021 - Korneychuk Evgeniya
Japan’s households, firms on saving spree as pandemic impact lingers

Japan’s currency hit a four-month record high in June, the central bank’s data showed on Friday, following a saving spree of households and companies uncertain of the country’s economic status amid lingering pandemic impact. 

Japan is trailing behind other major economies in recovering from the COVID-19’s blow. The country’s weak consumption is expected to worsen after the government’s declaration of another state of emergency in Tokyo.

Japan’s currency in circulation and deposits at financial institutions or M3 money stock climbed 5.2% in June from a year earlier to a record 1.52 quadrillion yen ($13.84 trillion).

It followed a 6.8% increase in May and was the slowest pace since May last year.

Bank deposits gained 9.3% in June from a year earlier, the slowest pace of increase since April last year. A total balance of 863.5 trillion yen was the second-highest recorded.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?