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(Update) Mizuho to Raise Long-Term Prime Rate to 13-Year High

(Update) Mizuho to Raise Long-Term Prime Rate to 13-Year High

   Tokyo, May 9 (Jiji Press)--Mizuho Bank said Thursday that it will raise its long-term prime rate by 0.1 percentage point from the previous month to 1.7 pct this month, the highest level since April 2011.
   The hike in the long-term prime rate, which is a benchmark for interest rates on one-year and longer-term loans to large companies, reflects a rise in Japanese government bond yields on the back of a surge in such rates in the United States as well as the end of the Bank of Japan's negative interest rate policy.

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AFP-JIJI PRESS NEWS JOURNAL


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