Japan's money stock, or currency in circulation and bank deposits, rose at the fastest annual pace on record in May as companies hoarded cash to guard against slumping sales from the coronavirus pandemic, central bank data showed on Tuesday.
FILE PHOTO: A Japan Yen note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration
The data underscores the disruption the health crisis is causing to corporate activity and the flow of money, leaving policymakers dealing with the stiff challenge of reviving an economy in the throes of a deep recession. “Companies are borrowing more amid the coronavirus pandemic and parking money in bank deposits, so they have more cash at hand to meet immediate funding needs,” a BOJ official told reporters.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Restaurants rehired 1.4 million workers in May, but gains may not last - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
There’s A Glaring, Misleading Error In The May Jobs Report: U.S. May Be At 20% UnemploymentThe Department of Labor has admitted that government household survey takers mistakenly counted about 4.9 million people as employed, although they were unemployed.
Read more »
Japan to adopt selective, rather than blanket, approach in coronavirus testsJapan will stop short of offering blanket coronavirus tests, and instead target the vulnerable and those most at risk in seeking to prevent a second wave of infections, the minister in charge of policies to combat the health crisis said.
Read more »
In a Tokyo school, temperature checks and silent lunches as Japan restarts classesWith the coronavirus an ever-present threat, the question is how long schools will be allowed to stay open.
Read more »
Japan stocks set to rise as U.S. jobs data bounces unexpectedlyStocks in Japan were set to trade higher at the open on Monday after U.S. jobs data released Friday hadan unexpected jump, spurring hopes of an economic recovery from the coronavirus pandemic.
Read more »