The Bank of Japan raises interest rates to the highest level in 30 years. It is expected that households nationwide will have a net increase of around 800 billion yen in annual income.

According to senior economist at Mizuho Research and Technology Company, the Bank of Japan will raise interest rates to 0.75%, the highest level in 30 years, potentially adding about 800 billion yen in net income for households each year. Naoki Hattori pointed out in a report that this is because banks will increase deposit rates, and government bond yields will also rise, surpassing the loan rates that will increase borrower costs. He estimates that raising interest rates on ordinary savings accounts and time deposits will bring in about 1 trillion yen in income for the economy each year.