Posted 12/5/2023, 2:03:00 AM
Japanese Banks Rush to Train Staff on Inflation amid Policy Normalization
- Japanese banks are giving crash courses to younger staff on dealing with rising interest rates, as many have no experience with inflation after decades of deflation
- Banks are tapping the expertise of veteran specialists to teach staff how money markets functioned before years of BOJ stimulus
- Major banks like MUFG and Resona have held dozens of seminars and study sessions to prepare client-facing staff for advising on rate swings
- Investment banks like Daiwa Securities created new departments to improve coordination for expected trading activity amid rate normalization
- Some client segments like pension funds are already adjusting portfolios, but skepticism exists on banks' ability to raise lending rates due to overcapacity