, Columnist
Is Japan Ready for a ‘World With Interest?’
A country that has known nothing but easy money for a generation will have to adapt.
Ready or not.
Photographer: Richard A. Brooks/AFP/Getty Images
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Japan is on the cusp of a brave new world — one where bank deposits yield 0.1% a year.
OK, that might not sound like a revolution. But in a country where an entire generation has grown up knowing nothing but yields near zero, and mortgage rates that seemed to get cheaper by the year, Mitsubishi UFJ Financial Group Inc.’s move to raise what it pays savers is exceptional.