(Bloomberg) -- Japan issued newly designed banknotes for the first time since 2004 in a move that may provide a small boost to the economy while potentially ...
-- Japan issued newly designed banknotes for the first time since 2004 in a move that may provide a small boost to the economy while potentially nudging some cash hoarders to invest money instead of stashing it under the mattress.The Bank of Japan shipped the first bundle of newly designed notes on Wednesday. The new ¥10,000 bills feature a portrait of Eiichi Shibusawa, seen as the father of Japanese capitalism.
“I hope they will be liked by Japanese people while adding a spark to the economy,” Kishida said at the BOJ. Suzuki said that nearly 80-90% of electronic cash registers and station ticketing machines are expected to be compatible with the new bills from the get-go, while only about 30% of vending machines would be ready.Decades of deflation and rock-bottom interest rates at banks have encouraged Japanese households to keep relatively large amounts of their savings in cash.
“I think this will spark positive moves such as increased investment, bank deposits or consumer spending,” said Eiji Kinouchi, chief technical analyst at Daiwa Securities. “The key is whether real interest rates remain low.”For Tesla, a Smaller Drop in Sales Is Something to CelebrateNEW YORK — Ivanka Trump broke her weekslong silence regarding her father’s recent hush money criminal conviction during a podcast appearance released Tuesday.
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