{"id":119615,"date":"2021-08-10T02:51:04","date_gmt":"2021-08-10T02:51:04","guid":{"rendered":"https:\/\/fin2me.com\/?p=119615"},"modified":"2021-08-10T02:51:04","modified_gmt":"2021-08-10T02:51:04","slug":"slow-growth-in-japans-bank-lending-shows-covid-19-cash-crunch-easing","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/slow-growth-in-japans-bank-lending-shows-covid-19-cash-crunch-easing\/","title":{"rendered":"Slow growth in Japan's bank lending shows COVID-19 cash crunch easing"},"content":{"rendered":"

TOKYO (Reuters) – Japan\u2019s bank lending rose in July at the slowest annual pace in nearly nine years, data showed on Tuesday, a sign companies were emerging steadily from a cash crunch last year caused by the coronavirus pandemic.<\/p>

A Japan Yen note is seen in this illustration photo taken June 1, 2017. REUTERS\/Thomas White\/Illustration\/Files<\/figcaption>

But the slowdown in lending also reflected sluggish consumption as households hoarded cash instead of spending, underscoring the fragile nature of Japan\u2019s economic recovery.<\/p>\n

Total bank lending rose 1.0% in July from a year earlier, Bank of Japan data showed, slowing from a 1.4% gain in June and marking the lowest year-on-year increase since November 2012.<\/p>\n

Bank lending surged last year when companies were in need of immediate cash to ease the impact of the coronavirus pandemic on business.<\/p>\n

\u201cSome companies were paying back loans they tapped as a precaution,\u201d a BOJ official told a briefing. \u201cBank deposits remain at high levels, which shows households are cautious about boosting spending,\u201d he added.<\/p>\n

The average balance of bank deposits rose 5.7% in July from a year earlier at 831 trillion yen ($7.53 trillion), far exceeding the 578 trillion yen for that of bank lending, the data showed.<\/p>\n

Major banks saw lending fall 1.4% in July from a year earlier after a 1.6% drop in June, largely in reaction to last year\u2019s surge in fund demand to deal with the pandemic\u2019s shock.<\/p>\n

Regional banks increased lending by 2.3% in July, a slowdown from a 2.9% gain in June, suggesting that cash constraints were easing even for small and mid-sized borrowers.<\/p>\n

Japan\u2019s economy emerged from last year\u2019s hit from the pandemic thanks to robust overseas demand, though the outlook is clouded by a resurge in COVID-19 infections that is crippling private consumption.<\/p>\n

($1 = 110.3400 yen)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TOKYO (Reuters) – Japan\u2019s bank lending rose in July at the slowest annual pace in nearly nine years, data showed on Tuesday, a sign companies […]<\/p>\n","protected":false},"author":3,"featured_media":119614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nSlow growth in Japan's bank lending shows COVID-19 cash crunch easing - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/slow-growth-in-japans-bank-lending-shows-covid-19-cash-crunch-easing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Slow growth in Japan's bank lending shows COVID-19 cash crunch easing - Fin2me\" \/>\n<meta property=\"og:description\" content=\"TOKYO (Reuters) – Japan\u2019s bank lending rose in July at the slowest annual pace in nearly nine years, data showed on Tuesday, a sign companies [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/slow-growth-in-japans-bank-lending-shows-covid-19-cash-crunch-easing\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-10T02:51:04+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Slow-growth-in-Japans-bank-lending-shows-COVID-19-cash-crunch-easing.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/slow-growth-in-japans-bank-lending-shows-covid-19-cash-crunch-easing\/\",\"url\":\"https:\/\/fin2me.com\/markets\/slow-growth-in-japans-bank-lending-shows-covid-19-cash-crunch-easing\/\",\"name\":\"Slow growth in Japan's bank lending shows COVID-19 cash crunch easing - 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