Bank Lending in Japan Drops in Third Quarter

Data released by the Bank of Japan showed that bank lending in Japan’s banks dropped unexpectedly in the third quarter of this year.

The data showed that the lending rate among banks in the country fell to a seasonally adjusted annual rate of 2.5 percent, down from 2.6% in the previous quarter.

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The figure fell short of analysts expectations for the country’s bank lending to remain unchanged at 2.6 percent in Q3.

Meanwhile, the Ministry of Finance said Japan posted a current account surplus for the 15th straight month in September as the trade balance swung to a surplus.

The current account surplus stood at JPY1.47tr, up from a JPY978bn surplus in September last year.

According to Reuters, the median forecast was for JPY2.2tr. – BusinessNewsAsia.com

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