Japan pandemic policy seen forming financial bubbles

A different kind of crisis: Businesses and consumers manage to inflate savings

Aggressive policies adopted by Japan's government and central bank to help businesses through the pandemic have resulted in piles of unspent money. (Source photos by Akira Kodaka and Masaru Shioyama)

ISAYA SHIMIZU, Nikkei senior staff writer

July 15, 2020 14:33 JST

TOKYO -- The amount of cash and deposits held by businesses and consumers in Japan has swelled as the government and central bank open fiscal and monetary spigots wide, hoping to resuscitate an economy sickened by COVID-19.