TOKYO (Reuters) - Japanese banks' profits have deteriorated due to a decline in interest rates caused by the Bank of Japan's negative rate policy, the head of a business lobby group said.
"The profits environment for financial institutions has clearly been in a deteriorating trend," said Kanetsugu Mike, who is also the head of Mitsubishi UFJ Financial Group Inc's banking unit.
The BOJ in December unveiled a plan to examine more effective ways to achieve its 2% inflation target, and said it would announce the findings of the review in March.
(Reporting by Takashi Umekawa; Editing by Kim Coghill)
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| 167.2 JPY | +0.51% | -0.62% | - | ||
| 113.3 JPY | +0.58% | -1.00% | - | ||
| 1,551 JPY | -0.51% | -1.80% | 119B | ||
