Executives at a leading Japanese bank have apologized and taken pay cuts after police arrested an employee who allegedly stole about $9 million worth of valuables from customers’ safe deposit boxes.

Japan’s biggest banks are nearing a key valuation level for the first time in almost a decade as investors bet that the Bank of Japan will raise interest rates on Friday and accelerate its normalisation of monetary policy.

Stronger wages have contributed to the decision by Japan's central bank to raise rates to about 0.5%. The BOJ reiterated that it may in the future raise interest rates again, if required. View on euro

The head of Japan's MUFG Bank has promised to review the financial institution's safe deposit box operations following a series of alleged thefts by a former employee.

Japan's central bank has raised its key interest rate to about 0.5% from 0.25%, noting that inflation is holding at a desirable target level

The Bank of Japan delivered a widely expected 25 basis point hike to its key lending rate on Friday, bringing the overnight call rate to the highest since 2008 and putting pressure on the dollar. The ICE Dollar Index slipped 0.

TOKYO (Kyodo) -- A former employee of MUFG Bank was arrested Tuesday over the alleged theft of valuables from customers' safe deposit boxes, police investigative sources said.

The thefts at two branches of MUFG Bank spanned four years and ... according to the bank. The bank, one of Japan's three megabanks, was formed in 2006 by the merger of UFJ Bank and Bank of Tokyo ...

The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2% target.

MUFG Bank is the largest lender in Japan and the main banking unit of the Mitsubishi UFJ Financial Group, a leading global financial services group. It operates 421 domestic and 104 overseas branches and employs over 31,000 staff as of March 2024 ...