Vault-o-mania

From the FT,

Mini-vaults are in fashion in the land of the rising sun.

That’s according to Japan’s national newspaper Yomiuri Shimbun. Sales of mini-vaults have gone up in Japan after the Bank of Japan announced its negative interest rate policy in late January, in anticipation that the deposit rate will go down.

According to the report, “owners of small and medium enterprises as well as the elderly are buying the mini-vaults” to keep their money in boxes.

Here is a picture of what the shop front for vaults looks like in Japan, via Izuru Kato, chief economist at Totan Research:

japanfeb22-vault.png

The Japanese above reads; “Are you prepared for negative interest rates?”

Here is my previous post: Ten Things To Do If Banks Start Charging On Deposits

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