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.

(Bloomberg) -- Mitsubishi UFJ Financial Group Inc. said its banking unit chief and other ... executives will take similar pay cuts. Japan’s biggest bank said in November that it had fired ...

Mitsubishi UFJ Financial Group shares rose to their highest intraday level since listing in April 2001, buoyed by growing confidence that modest inflation is taking hold in Japan and that the central bank will keep gradually raising rates.

Giving explicit advance signals, in addition to making the Bank of Japan feel boxed in, could breach Japanese law stipulating the nine-member board must debate and sign off on rate decisions at each policy meeting.

After the BOJ caught markets off guard with December's decision, Governor Kazuo Ueda flagged uncertainty over U.S. economic policy ahead of Donald Trump's return as president as a key reason it had refrained from raising rates. Considered dovish, Ueda's comments pushed down market pricing of January action to 46% from 70%.

Mitsubishi UFJ Financial Group, known as MUFG, is Japan’s largest banking group, with 8.0% share of domestic loans and 11.6% of deposits as of March 2024. It was also the most global among Japanese banks in terms of the contribution of overseas operations to profits and balance sheet,

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The S&P/ASX 200 closed 27.4 points higher, up 0.33%. It looked again to be somewhat of a “there’s been a pullback in long term risk-free market yields” rally today. Interest rate sensitive sectors were up the most.

SMTG focuses on high-net-worth individuals who can be customers across its specialized loan, trust, real estate, and investment-management products, and it has fewer branches than the megabanks or the largest regional banks,

Japan’s central bank looks poised to lift its key interest rate to 0.5%, from 0.25%, at its meeting Thursday and Friday, according to around 80% of economists polled by Reuters.

Established under the Bank of Japan Act in 1882, it is a juridical entity and neither a government agency nor a private corporation. The BoJ sets monetary policy in the country. Its mandate is to ...

Japan's central bank raised interest rates to their highest since the 2008 global financial crisis and revised up its inflation forecasts.