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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
JapanJapan Bank Lending YoY held to 5.7% in June 2026
FMPMonthlyReleased July 2026
Japan Bank Lending YoY held to 5.7% in June 2026, released July 2026. The reading matched the 5.8% consensus. The print is running well above the 12-month average of 4.25%. Over the past 3 months, Bank Lending YoY averaged 5.3%, vs 4.47% in the prior 3-month window. Bank Lending YoY is now the highest in 36 months.
Latest Release
5.7
Actual
5.8
Consensus
5.7
Previous
Median Absolute Error
±0.2 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 6.02
Actual: 5.7
Error: +0.32
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/JPY | ▲ Direct | +0.65 | FOREX | Moves with | → View |
| S&P 500 | ▲ Direct | +0.37 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Bank Lending YoY (Japan) was reported at 5.7% in July 2026. This missed the market consensus of 5.8% by 0.1%. The reading was unchanged from the previous release. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 4.46%, ranging from 3.2% to 5.7% across 11 releases.
WHY IT MATTERS
The trailing three releases averaged 5.6%, up from the prior three at 4.47%. Volatility over the past year (σ 0.79%) is higher than the prior year (σ 0.25%). In July readings over the past 3 years, Bank Lending YoY has averaged 3.9%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with USD/JPY (Bullish USD). A secondary relationship exists with S&P 500, positively correlated (Bullish S&P 500). Over the last 12 releases, the Sigmacast model's median absolute error is 0.2%.
WHAT TO WATCH NEXT
The next release is scheduled for August 9, 2026. Same-country events in the next 14 days include CFTC JPY speculative net positions (Jul 31) and BoJ Monetary Policy Meeting Minutes (Aug 4).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Bank Lending YoY - JP
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About Bank Lending YoY — Japan
DEFINITION
Bank lending YoY (Year-over-Year) is a financial indicator that measures the annual change in the amount of loans and credit extended by banks. It is a key metric used to assess the overall health of the banking sector and the availability of credit in the economy. A positive YoY growth in bank lending indicates a growing economy, while a negative growth may signal a slowdown. This indicator is closely monitored by investors, policymakers, and analysts to gauge the strength of the financial system and its impact on economic growth.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 5.7 %, consensus 5.8 %. Prior reading (May 2026): 5.7 %. Before that (Apr 2026): 5.4 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/JPY (Bullish USD, r=0.65) — a useful reference for forex-focused traders.
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Economic Calendar - JP Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 05:00 | JP | Consumer Confidence | 34.9 | 33.8 | 34.2 | 34.55 | High |
| 23:30 | JP | Unemployment Rate | 2.5 | 2.5 | 2.5 | 2.50 | Medium |
| 23:30 | JP | Core CPI YoY | 1.9 | 1.6 | 1.7 | 1.80 | Low |
| 23:30 | JP | Jobs/applications ratio | 1.18 | 1.17 | 1.17 | 1.17 | Low |
| 23:30 | JP | CPI YoY | 2 | 1.9 | 2 | 2.00 | Low |
| 23:50 | JP | Retail Sales YoY | 0.5 | 5 | 3.1 | 1.80 | Medium |
| 23:50 | JP | Industrial Production MoM | 1.3 | 0.1 | 0.7 | 1.00 | Medium |
| 23:50 | JP | Retail Sales MoM | -4.1 | 1.7 | -0.5 | -2.30 | Low |
| 23:50 | JP | Industrial Production YoY | 4.2 | -2.1 | 1.8 | 3.00 | Low |
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 03:00 | JP | BoJ Interest Rate Decision | 1 | 1 | 1 | 1.00 | High |
| 05:00 | JP | Construction Orders YoY | 2.3 | -6.7 | -7 | -2.35 | Low |
| 05:00 | JP | Housing Starts YoY | 18.6 | 33.9 | 12.8 | 15.70 | Medium |