Japan's banking sector continues its lending expansion. December data shows bank lending including trust accounts accelerating to 4.4% year-over-year growth, up from 4.2% the prior month. Excluding trust holdings, the growth rate strengthened further to 4.8%, compared to 4.5% previously. The consistent uptick across both metrics suggests strengthening credit demand and financial liquidity in Japan's economy, factors that typically influence broader market risk appetite and capital flows into emerging asset classes.