2016-04-07 — wordpress.com
Some financial market sources believe it is because more people are keeping their money at home rather than in banks, because interest rates on deposits have fallen to almost zero after the Bank of Japan introduced a negative interest rate in February.
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He attributed the sharp increase to people not wanting their wealth to become known to authorities following the introduction of the My Number common identification system for tax and social security.
In addition, the BOJ's negative rate policy "may have fueled concerns among the public about depositing their money in banks," Kumano said.
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