Record Amount Borrowed From Japanese Banks
Japanese banks saw their loan balances reach another record high last month as companies and individuals continued to borrow money to cope with the pandemic.
The Bank of Japan said on Monday that average outstanding debts for February topped 578 trillion yen, or 5.3 trillion dollars.
It was the highest level since 2000, when comparable data became available.
The central bank says restaurants and hotels are applying for more loans. That's due to the impact of the country's second state of emergency declared in early January.
The BOJ says it plans to keep a close eye on the trend following the extension of the emergency until March 21 for Tokyo and surrounding prefectures.