Japan household assets hit record in Sept. as virus slows consumption

Assets held by Japanese households hit a record 1,901 trillion yen ($18 trillion) at the end of September, up 2.7 percent from a year earlier, as the coronavirus pandemic weakened consumption and left people with more cash and deposits, the Bank of Japan said Monday. The expansion followed the government’s cash handout program in which it gave 100,000 yen to each person to cope with the economic fallout from the pandemic. The result suggests that consumers did not splash out, instead adding to savings despite the intent of the policy. The total of assets held in cash and deposits increased at …

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HEDGE accordingly