Japan to face financial sector shakeup

Japan to face financial sector shakeup

Japan’s financial sector faces its biggest shakeup in decades thanks to an end to zero interest rates and an imminent wave of inheritances. About half of Japan’s household wealth is kept in cash or current accounts, because for years savings have made no money. That is changing as interest rates rise, forcing banks to compete on savings offers. Meanwhile, about 14% of Japan’s rapidly aging population will die by 2035, creating an “inheritance av…